Moody's Ratings upgraded Taiwan Semiconductor Manufacturing Co's (TPE:2330) issuer rating to Aa2 from Aa3, and revised its outlook to stable from positive, according to a Wednesday statement.
The upgrade reflects the foundry's technological leadership in advanced chipmaking, and strong financial position, coupled with the strong demand for artificial intelligence chips, the rating agency said.
Moody's also upgraded the senior unsecured debt issued by TSMC's wholly owned subsidiaries, TSMC Arizona Corp and TSMC Global, and guaranteed by TSMC.
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