upgrade

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Upgrade

1. An improvement to an existing product. Some companies, especially technology companies, offer upgrades to customers for free or at a discount.

2. An improvement to the quality of securities in a portfolio. For example, one may sell a stock with a given risk and return and buy another stock with a higher return at the same level of risk. Alternatively, a security may upgrade by itself; for example, its issuer may announce higher than expected earnings, and, therefore, a higher dividend.

3. An increase in a bond rating. For example, if a bond goes from a junk rating to an investment-grade rating, the bond is said to be upgraded. This usually occurs when the issuer reduces its exposure to one or more risks.

upgrade

to replace an existing COMPUTER system (HARDWARE and/or SOFTWARE) by a more powerful model capable of processing data faster or storing larger amounts of data. When upgrading, computer users can experience problems of compatibility with existing programs and machines.
References in periodicals archive ?
Suncor submitted a regulatory application for Project Voyageur in March 2005, which focused on constructing a third upgrader south-west of the original facility.
2 Syncrude is the Largest Heavy Oil Upgrader Project in Canada as of 2011 396.
In an unrelated news conference held the same day that Redford met with First Nations Chiefs, Redford and Saskatchewan Premier Brad Wall said that a new upgrader was being considered.
Williams plans to build a liquids extraction plant and supporting facilities at the oil sands producer's upgrader.
Smart TV Upgrader device range and will provide free delivery to all LG customers
API naphtha blend diluent and lighter Venezuelan crudes, is pumped through a 36-inch, 200 km pipeline to Petrozuata's Jose upgrader, where the diluent is separated and returned to the field through a second, 20-inch pipeline for re-use.
The upgrader would get most of its supply through the new Bitumen Royalty in Kind (BRIK) initiative, under which Alberta will begin to take its share of royalties in bitumen rather than cash in a move to encourage value-added production in the province.
StatoilHydro ASA (OSE: STL) (NYSE: STO), a Norway-based oil and gas exploration company, has withdrawn a regulatory application for development and construction of a bitumen upgrader in Alberta, Canada.
ENERGY RESOURCE-15 May 2008-Suncor Energy Shuts Down Upgrader as Part of Planned Maintenance(C)2008 JeraOne - http://www.
1 billion upgrader expansion, which includes the addition of new coking facilities.
The project will commence construction after Syncrude's upgrader expansion is completed.
Whether you're a first-time homebuyer, an upgrader or a downsizer, buying a house in Southern California involves scaling a steep learning curve and, in many cases, absorbing a few surprises.