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Lam Research Corp. Upgraded To 'BB+' On Improved Liqudity Position And Market Share; Outlook Positive Product Image

Lam Research Corp. Upgraded To 'BB+' On Improved Liqudity Position And Market Share; Outlook Positive

  • ID: 1714448
  • April 2011
  • Standard & Poors

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Abstract
U.S. semiconductor manufacturing equipment provider Lam Research continues to gain market share in its core single wafer clean and etch markets. The company has paid off all funded debt to eliminate covenants and has replenished its cash balance to over $1 billion from a downturn low of about $580 million as of the March 2011 quarter. We are raising the corporate credit rating to 'BB+', assigning a positive outlook, and removing the rating from CreditWatch. The positive rating outlook reflects our view that Lam's continued profitable market share growth, historically high revenue, and enhanced liquidity provide upside for the rating if sustained. NEW YORK (Standard & Poor's) April 26, 2011--Standard & Poor's Ratings Services said today that it raised its...

Companies mentioned in this report are: Lam Research Corp.
Action: Upgraded

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Lam Research Corp.

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Note: Product cover images may vary from those shown

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