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Ratings agency S&P Global Ratings on Wednesday raised GameStop’s credit standing by one notch, a important step within the video retailer’s transformation into an e-commerce company. S&P Global Ratings said in a note that it lifted GameStop’s credit rating to “B” from “B-” and removed it from CreditWatch after the corporate issued $550 million in fairness and redeemed all steadiness sheet debt. “We expect these actions to provide additional runway to achieve its business transformation initiatives, present liquidity, and improve GameStop’s monetary threat profile,” S&P analysts wrote. TAIPEI -Taiwan’s Foxconn said on Wednesday it has formed a three way partnership Travel with Yageo Corp to increase its presence within the semiconductor trade, as a world chip shortage rattles producers of goods from cars to electronics. The supply bottleneck has led to production cuts and warnings of supply chain disruption from producers internationally this 12 months. Electronics manufacturing conglomerate Foxconn, which counts tech giants corresponding to Apple among its top purchasers, mentioned in an announcement the two firms will arrange a brand new agency in Taiwan referred to as XSemi Corporation.
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