Moody’s Investors Service upgraded Santa Monica videogame publisher Activision Blizzard Inc.’s credit rating from “stable” to “positive” on Monday, saying the company’s outlook had improved and that the launch of new game franchise Destiny would add to its revenue.

In addition to paying off $375 million of debt in the first quarter 2014, the company has generated higher than expected free cash flow (operating cash flow less capital expenditures) and has about $4.2 billion in cash on hand, Moody’s said.

Neil Begley, Moody’s senior vice president, said in a statement that the rating agency expects the Destiny franchise to sell between 10 million and 14 million units.

Activision’s operating performance is also expected to get a boost from the company’s existing top-selling franchises, Begley said, including Call of Duty, World of Warcraft, Skylanders, and Hearthstone, all of which have new titles coming out in the holiday season.

Shares of Activision closed down 16 cents, less than a point, at $23.86 in Monday trading.