Moody's ups ASML to investment grade

Moody's Investors Service said it upgraded to Baa3 from Ba1 the corporate family rating of ASML Holding NV, with a stable outlook.

At the same time, the agency said it affirmed the Baa3 rating for the 5.75% senior Eurobonds, noting that the rating action reflects ASML's fast progress in extending its technology leadership and gaining market share to firmly entrench its customer relationships with the large and leading global semiconductor companies.

As a result, ASML's financial performance has become more resilient to short term order volatility or substitution risk with regard to its customers or technological innovations, Moody's added.

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