S&P lifts STMicroelectronics

S&P said it raised STMicroelectronics NV’s rating to BBB+ from BBB.

STMicroelectronics doubled its “annual revenue base since 2018 to about $17.3 billion in 2023 and is well positioned in growing segments to benefit from above-market revenue growth,” the agency said in a press release.

“Despite a challenging macroeconomic environment in the near term, we expect ST will achieve revenue growth of about 7% for full-year 2023 and 4%-5% revenue growth in 2024-2025, stemming from the company's strong market position in growth segments,” the agency added.

The outlook is stable.

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