Advanced Micro Devices (AMD) Long-Term IDR Upgraded to 'B'

Advanced Micro Devices Inc. (NYSE: AMD) announced that Fitch Ratings has upgraded the following Issuer Default Rating (IDR) of the company:

• Long-term IDR to 'B' from 'B-'; and
  
  
• Senior unsecured debt upgraded to 'B+/RR3' from 'B-/RR4'.

The rating and Outlook reflects:

• Higher operating profitability, which Fitch believes is more sustainable from lower operating expenses following AMD's restructuring actions taken over the past two years; and
  
  
• Strengthening free cash flow profile from meaningfully reduced capital spending.

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