Moody’s turns STMicroelectronics view to positive

Moody’s Investors Service said it changed the outlook to positive from stable and affirmed STMicroelectronics NV’s long-term issuer rating at Baa3.

“The outlook change to positive from stable reflects its solid operating performance since 2017 against difficulties in some of the company’s end-markets, which were hit by the coronavirus pandemic. ST benefits consistently from the increasing digitization with higher product content per device across segments, which could support a lower volatility of operating performance going forward. We believe that ST will continue to show solid revenue growth while maintaining its profitability and capital structure,” Moody’s said in a press release.

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