Fitch affirms STMicroelectronics

Fitch Ratings said it affirmed STMicroelectronics' long-term issuer default rating and senior unsecured rating at A-.

The outlook remains negative.

The ratings reflect an improving industry outlook, ongoing restructuring of the company's product portfolio and the expectation that 2010 should see the company deliver much better results in 2010, Fitch said.

Fitch said it remains cautious over the prospects for the wider economy, but the delivery of positive results and receding concerns for the global economy could see the company's outlook stabilize quickly.

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