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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 ?
Fitch upgraded the sovereign's local currency (LC) Issuer Default Rating (IDR) and Country Ceiling to 'B' from 'CCC' on March 22, 2016 (see 'Fitch Affirms Argentina's FC IDR at 'RD'; Upgrades LC IDR to 'B'; Outlook Stable').
M-6, Upgraded to Caa1 (sf); previously on Mar 18, 2013 Affirmed C (sf)
A-4, Upgraded to Aa3 (sf); previously on Aug 21, 2013 Upgraded to A2 (sf)
A-4, Upgraded to Caa2 (sf); previously on Dec 28, 2010 Upgraded to Caa3 (sf)
A3, Upgraded to A3 (sf); previously on Apr 6, 2015 Upgraded to Baa3 (sf)
A4, Upgraded to Ba2 (sf); previously on Feb 6, 2015 Upgraded to B1 (sf)
IIIA-1, Upgraded to Baa1 (sf); previously on Jun 29, 2012 Confirmed at Baa3 (sf)
23 primary, middle and high schools have been upgraded in two Tehsils including Murree and Kotli Sattian of district Rawalpindi.
According to Mepco office sources, the distribution transformers were upgraded to bring about more improvement in the system.
Class B1: Upgraded to 'AAA(EXP)sf' from 'AA+(EXP)sf'; Outlook Stable
Google didn't provide a list of movies that will be upgraded to 4K, but participating Hollywood studios include Fox, Lionsgate, NBC Universal, Sony and Warner Bros., as pointed out by (https://www.androidpolice.com/2018/10/23/google-play-movies-tv-will-upgrade-movies-4k-free/) Android Police.