Advanced Micro Devices Inc can look forward to the likelihood of an uprating from Standard & Poor’s Corp. The New York credit ratings agency says it may upgrade the chipmaker’s single-B-rated $172.5m preferred stock and double-B-minus and single-B-rated Rule 415 mixed shelf registration. Reasons for the review are that the forthcoming K5 microprocessor is likely to be sold in material volume during 1995, offsetting anticipated declines in the Am486 line, but the firm remains one product generation behind Intel Corp and historically constrained cash flow has crimped investment in new plants.
Nynex Corp’s New York Telephone Co has had the single-A rating on its senior debt reaffirmed by Standard & Poor’s Corp in the wake of the agreement with MFS Communications Co Inc which opens the company’s network to true local competition. The pact is not expected to have a significant impact on New York Telephone’s revenues in the near term, Standard & Poor’s estimates, affirming the debt rating.
