Fitch Plans to Withdraw AMD's Ratings

NEW YORK--()--Fitch Ratings is planning to withdraw the ratings on Advanced Micro Devices Inc. (NYSE: AMD) on or about March 15, 2016, which is approximately 30 days from the date of this release, for commercial reasons.

Fitch currently rates AMD as follows:

--Long-term Issuer Default Rating (IDR) 'B-';

--Senior secured revolving credit facility (RCF) 'BB-/RR1';

--Senior unsecured debt 'B-/RR4'.

The Rating Outlook is Negative.

Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Believing that investors benefit from augmented rating coverage Fitch is providing approximately 30 days' notice to the market of the rating withdrawal of AMD. Ratings are subject to analytical review and thus may change up to the time Fitch withdraws the ratings.

Fitch's last rating action for AMD was on April 20, 2015; at that time the long-term IDR was affirmed at 'B-'. In addition, Fitch affirmed the senior secured RCF rating at 'BB-', assigning a Recovery Rating (RR) of 'RR1', and affirmed the senior unsecured debt at 'B-', assigning an RR of 'RR4'. Fitch also revised the Rating Outlook to Negative from Stable.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Michael J. Mancini
Senior Director
+1-212-908-0757
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Media Relations:
Alyssa Castelli, +1 212-908-0540
alyssa.castelli@fitchratings.com

Contacts

Fitch Ratings
Michael J. Mancini
Senior Director
+1-212-908-0757
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Media Relations:
Alyssa Castelli, +1 212-908-0540
alyssa.castelli@fitchratings.com