EMC Corp is eating IBM Corp’s storage lunch so hungrily that it may get an upgrade from Standard & Poor’s Corp: the ratings agency is looking at its single-B subordinated debt rating and implied senior rating of double-B-minus for possible upgrade. But revenues are largely tied to a narrow product line vulnerable to sudden market shifts and rapid technological change, but the balance sheet has been enhanced by a recent equity offering, which should help support EMC’s rapid growth, it said.
