S&P raises Micron Technology rating to BBB with positive outlook

Micron Technology just collected another credit upgrade, with S&P Global Ratings lifting the memory chipmaker to BBB+ and assigning a positive outlook. A year of upgrades S&P upgraded the company to BBB from BBB- back in February 2026, citing robust performance driven by surging demand for AI-related technologies. The agency specifically pointed to Micron’s high-bandwidth memory (HBM) sales as a key driver of improved financials. Fitch Ratings followed suit in May, upgrading Micron to BBB+ with a stable outlook. Fitch’s rationale centered on the company’s notable debt repayment efforts and a strengthened balance sheet. Later that same month, S&P reaffirmed its BBB rating with a positive outlook, acknowledging Micron’s sustained momentum amid growing AI-related market demand. The AI memory trade Micron is one of three major manufacturers of DRAM and NAND memory chips globally, and it has positioned itself as a leading supplier of high-bandwidth memory, the specialized product that powers the AI accelerators made by companies like Nvidia. The company reported substantial year-over-year growth in fiscal Q1 2026, with AI product demand serving as the primary catalyst. Bank ...