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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST

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To: Paul Engel who wrote (34480)10/9/1997 9:46:00 AM
From: Craig M. Newmark   of 186894
 
Paul, Re: Moody's downgrade of AMD bonds

The Ba1 rating is a "junk bond" rating (albeit the very highest rating of "junk", just barely below investment grade).

Moody's defines Ba as follows:
"Bonds which are rated Ba are judged to have speculative elements; their future cannot be considered as well-assured. Often the protection of interest and principal payments may be very moderate, and thereby not well safeguarded during both good and bad times over the future. Uncertainty of position characterizes bonds in this class."

See moodys.com

I thought the downgrade was interesting because one would hope that Moody's is a relatively objective source, like a reputable independent CPA firm, say, and unlike some stock brokerage analysts.

Craig
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