Sandisk rating upgraded by Moody’s on debt elimination

Moody’s Ratings has upgraded Sandisk Corporation’s corporate family rating to Ba1 from Ba2, citing the elimination of funded debt and strong financial performance. The probability of default rating was raised to Ba1-PD from Ba2-PD, and the speculative grade liquidity rating remains at SGL-1 with a stable outlook. Moody’s expects robust revenue, profit, and free cash flow growth over the next 12 to 18 months, driven by strong artificial intelligence-related data center spending and pricing.

As of July 2026, reported debt was zero and cash totaled $4.8 billion. The credit profile benefits from healthy long-term demand for data storage capacity, the company’s large operating scale, and its broad portfolio of NAND-based storage products.

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