Moody's upgrades ASML

Moody's Investors Service said it upgraded the senior unsecured ratings of ASML Holding NV to A3 from Baa1.

The outlook was changed to stable from positive.

The upgrade reflects the improved visibility regarding the successful commercial roll-out of its next-generation lithography technology, Moody's said.

The technology will significantly improve productivity and cost efficiency of ASML's customers, the agency added.

Based on this competitive edge, Moody's said confidence has further increased that ASML can maintain its excellent liquidity profile, low financial leverage and strong financial performance, Moody's said.

The ratings continue to incorporate inherent volatility of the semiconductor equipment market, but as it faces long-term sustainable demand fundamentals, Moody's said it would not expect future declines in performance to be prolonged.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.