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Politics : Formerly About Advanced Micro Devices
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To: K. M. Strickler who wrote (31825)4/13/1998 7:08:00 PM
From: Maverick  Read Replies (1) of 1572377
 
S&P Lowers Credit Ratings on AMD to single-'B'
April 13, 1998/FOOLWIRE/ -- Semiconductor maker Advanced Micro Devices
(NYSE: AMD) fell $15/16 to $25 11/16 after Standard & Poor's downgraded the
company's bank loan, senior secured debt, and corporate rating to single-'B'
from double-'B'-minus. S&P also deemed the outlook for AMD to be negative,
citing that the company "faces heightened competitive pressures and the
challenges of ramping production of its current product line to restore
profitability."
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