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S&P lifts SanDisk outlook to positive
Standard & Poor's said it revised its outlook on SanDisk Corp. to positive from stable.
The agency said it also affirmed the B corporate credit and senior unsecured ratings on the company.
"The outlook revision follows two quarters of sequentially improving earnings, coupled with stability in industry pricing," said S&P credit analyst Lucy Patricola.
The agency said it believes debt to EBITDA, which could not be measured due to losses until the most recent quarter, will improve to about 4x for 2009.
"Further," added Patricola, "we believe that operating conditions and pricing should be less volatile in 2010, as no new wafer supply has been added and technology transitions moderate due to increasing complexity. We, therefore, expect growth in supply to be muted, while demand continues to grow modestly."
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