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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
Caption: This compressor, located at Shell Canada's Scotford Manufacturing Centre, is the heart of the company's Quest project, which will enable C[O.sub.2] captured from the site's oil sands upgrader to travel by pipeline to injection wells for permanent storage.
the compact-sized ST600 Smart TV upgrader, viewers can easily transform their
North West has about six months more of engineering work to do on the upgrader. Using a gasifier instead of a coker, the plant will produce a pure stream of 3,500 tonnes a day of carbon dioxide that will feed into the Enhance Energy s pipeline that will move the CO2 to central Alberta for enhanced oil recovery.
plans to shut down one of two upgraders at the company's oil sands operations near Fort McMurray, Alberta, to complete maintenance during a scheduled shutdown.
DAL had been promoting the funds with an elaborate 9 x 12-inch envelope package that included a quarterly issue of The Upgrader and a number of other pieces about the company.
Step Three: The construction of a third oil sands upgrader and the expansion of oil sands mining and in-situ development is the final phase of Suncor's plan to increase production capacity to 500,000 to 550,000 barrels of oil per day.
The project comprises the C$l.8 billion Muskeg River mine, to be constructed on Lease 13, some 70 km north of Fort McMurray, and the C$1.7 billion Scotford Upgrader, to be constructed adjacent to Shell's existing refinery to the north of Fort Saskatchewan.
The unusual qualities of the process enable the construction of low-cost, skid-mounted upgraders that can be deployed at the wellhead.
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 Scotford upgrader, which opened in 2003 near Edmonton, Alta., processes 100,000 barrels per day of synthetic crude from oil sands operations into gasoline and other fuels.