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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (120358)	7/16/2000 10:42:26 AM
From: milo_morai	Respond to of 1571986

Moody's may raise Advanced Micro Devices <AMD.N>=2 The rating review is prompted by the company's recent success in manufacturing its Athlon microprocessor family, and expectations that continued operating improvement during this semiconductor sector upcycle should provide for stronger cash flow generation and improved liquidity, all of which were concerns when the ratings were lowered in July 1999. Moody's also noted that the company has recently tendered for its $400 million of senior secured notes due August 2003. The rating agency said that its review will focus on the prospects for sustained operational and financial improvement, expectations regarding the company's planned sale of certain telecommunications oriented semiconductor assets, its capital spending plans as the company seeks to advance its capacity and process technology at its two primary facilities - Dresden Germany and Austin Texas, as well as its overall financial and operational strategies going forward. Ratings under review for possible upgrade include: Senior implied rating - at B2 Senior secured public debt due August 2003 -- $400 million at B2 Subordinated, unsecured, public debt due May 2005 - $517 million at Caa1 Senior secured shelf registration -- (P) B2 Senior unsecured shelf registration -- (P) B3 Subordinated shelf registration -- (P) Caa1 Preferred stock shelf registration -- (P) "caa". Advanced Micro Devices, Inc., headquartered in Sunnyvale, California, designs and manufactures microprocessors, flash memory, and other semiconductors products. REUTERS Rtr 16:33 07-14-00