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Moody's Downgrades STMicroelectronics NV to Baa2; Outlook Stable-Reuters


Thursday, 13 Dec 2012 09:48am EST 

Reuters reported that Moody's Investors Service has downgraded to Baa2 from Baa1 the senior debt ratings of STMicroelectronics NV, following the Company's announcement of an update to its strategic plan on December 10, 2012. The outlook on the ratings has been changed to stable from negative. The Company's plan includes the decision to exit the 50/50 joint venture ST-Ericsson by Q3 2013 and a management target of an operating margin of 10% or more and reduced volatility in performance.