trending Market Intelligence /marketintelligence/en/news-insights/trending/8KXFaT4du9y_ae4SmTZoug2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

S&P upgrades AMD due to deleveraging

Blog

COVID-19 Impact & Recovery: LCD Outlook for H2 2021

Blog

COVID-19 Impact & Recovery: Technology Outlook for H2 2021

Blog

US utility commissioners: Who they are and how they impact regulation

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts


S&P upgrades AMD due to deleveraging

S&P Global Ratings raised Advanced Micro Devices Inc.'s issuer credit rating to BB- from B+ and maintained a positive outlook, citing the semiconductor firm's declining leverage and improving balance sheet.

The rating agency said AMD's leverage has fallen to 1.8x as of March 30 from 3.8x in 2017 due to the company's EBITDA growth and sustained debt repayments, including $225 million in the last six months.

The U.S. chipmaker is expected to maintain earnings growth and modest incremental debt repayment, enabling a further decline in leverage to below 1.5x over the next 12 months, warranting another potential ratings upgrade, S&P Global Ratings said.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.