Wednesday, 25 April 2012

TEXT-S&P raises Advanced Micro Devices rating to 'BB-'

Overview
-- U.S. Advanced Micro Devices (AMD) announced in February 2012 its
plans to de-lever through repayment of $485 million notes due August 2012.
-- AMD recently amended its wafer supply agreement with foundry partner
GLOBALFOUNDRIES in March 2012 and as a result, AMD may source 28 nanometer
wafers from alternate suppliers, to the potential benefit of its revenues and
operating profitability.
-- We are raising our corporate credit and senior unsecured issue ratings

Source: http://feeds.reuters.com/~r/reuters/companyNews/~3/Du5IrFbman8/idUSWNA576320120425

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