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Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Thales and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 2 June 2025 in which we reassessed the appropriateness of the ratings in the context of the relevant...

Moody's Ratings affirms Leonardo's Baa3 rating; changes outlook to pos...

Moody's Ratings (Moody's) has today affirmed Leonardo S.p.A.'s (Leonardo) Baa3 long-term issuer rating. Concurrently, we affirmed the company's Baa3 senior unsecured rating, its (P)Baa3 senior unsecured MTN program rating and its P-3 Commercial Paper rating as well as the Baseline Credit Assessment ...

BAE SYSTEMS plc: Update following outlook change to positive

Our credit view of this issuer reflects its balanced financial policy, offset by its risks over export licence regimes in relation to Saudi Arabia.

Leonardo S.p.A. - September 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Pelham Smithers
  • Pelham Smithers

PSA Technology: Semiconductor Industry 2025 Outlook

Following the recent results season where several leading semiconductor and SPE companies globally produced either disappointing results or guidance, we look at where the semiconductor industry is at present, where it looks to be headed in 2025 and identify opportunities in the Japanese IC / SPE space.

LOGI LOGITECH INTERNATIONAL S.A.
005930 SAMSUNG ELECTRONICS CO. LTD.
TSFA TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD. SPONSORED ADR
WDC WESTERN DIGITAL CORPORATION
TER TERADYNE INC.
ORCL ORACLE CORPORATION
ON ON SEMICONDUCTOR CORPORATION
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
LRCX LAM RESEARCH CORPORATION
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
COHR COHERENT INC.
AMAT APPLIED MATERIALS INC.
NFLX NETFLIX INC.
MRVL MARVELL TECHNOLOGY GROUP LTD.
7751 CANON INC.
9697 CAPCOM CO. LTD.
6383 DAIFUKU CO. LTD.
7735 SCREEN HOLDINGS CO. LTD
5803 FUJIKURA LTD
6861 KEYENCE CORPORATION
6501 HITACHI LTD.
000660 SK HYNIX INC
6920 LASERTEC CORP.
6728 ULVAC INC.
6723 RENESAS ELECTRONICS CORPORATION
6902 DENSO CORPORATION
6701 NEC CORP.
7731 NIKON CORP.
7201 NISSAN MOTOR CO. LTD.
7105 MITSUBISHI NICHIYU FORKLIFT
6963 ROHM CO. LTD.
9984 SOFTBANK GROUP CORP.
6758 SONY CORPORATION
6857 ADVANTEST CORP.
8035 TOKYO ELECTRON LTD.
7203 TOYOTA MOTOR CORP.
AIR AIR PARTNER PLC
5930 SAMSUNG ELECTRONICS CO LTD
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
STM STMICROELECTRONICS NV
00981 SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORP.
AVGO BROADCOM INC.
3993 PKSHA TECHNOLOGY INC.
6600 JT KIOXIA HOLDINGS (6600 JT)
ASO ACADEMY SPORTS AND OUTDOORS
CRSR CORSAIR GAMING
WOLF WOLFSPEED INC
TSE: 2980 SRE HOLDINGS CORP
688728 GALAXYCORE INC
688234 SICC CO LTD
6526 SOCIONEXT INC
6526 JT SOCIONEXT (6526 JT)
ARM ARM HOLDINGS PLC
ACCL DOLOMITE HOLDINGS LTD

Leonardo S.p.A. - June 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

BAE SYSTEMS plc - June 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Thales - June 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Thales: Update following rating affirmation

Our credit view of this issuer reflects its weak credit metrics, against its leading market position.

Moody's Ratings affirms Thales' A2 senior unsecured rating; outlook st...

Moody's Ratings (Moody's) has today affirmed Thales' A2 senior unsecured rating. Concurrently, the rating agency has affirmed the company's P-1 commercial paper rating, the (P)P-1 other short term rating and its (P)A2 senior unsecured MTN program rating. Thales' Baseline Credit Assessment (BCA) has ...

Leonardo S.p.A. - March 2024 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Leonardo S.p.A.: Update following rating affirmation

Our credit view of this issuer reflects its sizeable order backlog, equivalent to around 2.7 years of revenue, constrained by its cash flow volatility.

Moody's Ratings affirms Leonardo's Baa3 long-term issuer rating; outlo...

Moody's Ratings (Moody's) has today affirmed Leonardo S.p.A.'s (Leonardo) Baa3 long-term issuer rating. Concurrently, the rating agency has affirmed the company's Baa3 senior unsecured ratings, its (P)Baa3 senior unsecured MTN program and its P-3 Commercial Paper rating as well as the Baseline Credi...

Leonardo S.p.A. - December 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

BAE SYSTEMS plc - December 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Thales - December 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's assigns Baa1 ratings to BAE SYSTEMS plc's proposed senior unse...

Moody's Ratings (Moody's) has today assigned Baa1 ratings to the proposed new senior unsecured notes due 2027, 2029, 2031, 2034 and 2054 to be issued by BAE SYSTEMS plc (BAE or the company). BAE's Baa1 long term issuer rating and Baa1 ratings on its existing senior unsecured instruments are unaffe...

BAE SYSTEMS plc: Update following upgrade to Baa1

Our credit view of this issuer reflects its balanced financial policy with Moodyas-adjusted leverage expected to be maintained comfortably below 3x.

Leonardo S.p.A. - September 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Leonardo S.p.A. - June 2023 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

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