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S&P: Micron view to stable
Standard & Poor's said it revised the outlook on Micron Technology Inc. to stable from negative.
The agency also said it affirmed its BB- corporate credit rating.
The outlook revision reflects improving conditions in the memory market business, an expectation for further pricing stability following Micron's pending acquisition of Elpida Memory Inc. in support of industry consolidation and a view that Micron will maintain leverage at less than 3x as a result of a more favorable industry environment, S&P said.
Micron's market shares in DRAM and NAND trail industry leader Samsung Electronics Co. Ltd. and lag Toshiba Corp., according to IHS iSuppli, the agency said.
S&P also said it expects the company's DRAM industry consolidation plans will bring its DRAM revenue market share growth over the coming year to about a 25% revenue share.
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