Press release
AMD Senior Unsecured Credit Rating Raised to Investment Grade by Moody’s Investors Service
Upgraded rating driven by strong execution and financial outlook, including strong free cash flow expectation for 2020 and 2021 SANTA CLARA, Calif., Sept. 11,
About this update from Advanced Micro Devices Inc
[{"type":"text","content":"Upgraded rating driven by strong execution and financial outlook, including strong free cash flow expectation for 2020 and 2021\nSANTA CLARA, Calif., Sept. 11, 2020 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced that the company’s senior unsecured credit rating was raised to investment grade Baa3 by Moody’s Investors Service. \n “Our focus on roadmap execution and financial discipline during the last five years has created a solid foundation for long-term growth,” said Devinder Kumar, senior vice president, CFO and Treasurer, AMD. “We are pleased with this upgrade from Moody’s, which reflects our strong financial performance and outlook for continued growth and significant cash generation.” Moody’s upgraded AMD based on growing business momentum, share gains, strong financial performance, excellent liquidity and consistent execution. About AMDFor 50 years, AMD has driven innovation in high-performance computing, graphics and visualization technologies – the building blocks for gaming, immersive platforms and the data center. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, Facebook and Twitter pages. Cautionary StatementThis press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as expectations regarding AMD’s business momentum and future financial performance, including AMD’s outlook for continued growth and significant cash generation, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements are commonly identified by words such as \"would,\" \"may,\" \"expects,\" \"believes,\" \"plans,\" \"intends,\" \"projects\" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ m...