S&P ups Advanced Micro Devices

Standard & Poor's said it raised the corporate credit and senior unsecured issue ratings on Advanced Micro Devices Inc. to BB- from B+.

The agency also said it removed the ratings from CreditWatch, where they were placed with positive implications in January.

The outlook is stable.

The upgrade reflects Advanced Micro's improved financial profile, along with an improved business risk profile, S&P said.

The upgrade also considers the company's prospects for further revenue, earnings and market share stability, the agency said.

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