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 ?
To ensure that NASA can select the best upgrades for the shuttle program, there must be a pool of high-quality potential improvements,'' the report said.
The upgrades primarily reflect the strength of the incentive to appropriate for the three credits.
The number of upgrades in the fourth quarter of 2006 far exceeded downgrades with an upgrade-to-downgrade ratio of 2.
NEW YORK -- This is an amended version of a press release issued earlier today and contains revised economic figures at end of the second paragraph and an amended amount of rating upgrades in the third paragraph.