SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Spansion Inc.
CY 23.820.0%Apr 16 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: BUGGI-WO2/27/2008 4:05:40 PM
  Read Replies (1) of 4590
 
Fitch

001: Spansion issue-level ratings lowered; IDR affirmed with negative outlook - Fitch
002: MUMBAI (Thomson Financial) - Fitch Ratings downgraded Spansion Inc's
003: issue-level ratings, citing lower recovery prospects, though the company's
004: issuer default rating was affirmed at 'B-'.
005: The outlook remains negative.
006: Spansion's 175 mln usd senior secured revolving credit facility due 2010 was
007: cut to 'B/RR3' from 'B+/RR2'; 625 mln usd senior secured floating rating notes
008: due 2013 to 'B/RR3' from 'B+/RR2'; 225 mln usd of 11.25 pct senior unsecured
009: notes due 2016 to 'CCC/RR6' from 'CCC+/RR5'; and 207 mln usd of 2.25 pct
010: convertible senior subordinated debentures due 2016 to 'CCC-/RR6' from
011: 'CCC/RR6'.
012: About 1.2 bln usd of debt is affected.
013: The negative outlook mainly reflects Fitch's expectations that the company's
014: financial flexibility and liquidity position will remain relatively weak,
015: Spansion's free cash flow will be negative again in 2008, and ongoing
016: industry-wide excess capacity should constrain the company's ability to
017: meaningfully expand gross margins and, therefore, achieve operating
018: profitability over the near-term.
019: The ratings are supported by Fitch's expectations that Spansion will
020: continue to outgrow the NOR flash memory market over the next few years, beyond
021: the near-term, Spansion's significant recent investments should enable it to
022: achieve sustainable operating profitability through a normalized cycle.
023: tfn.newsdesk@thomson.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News