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Technology Stocks : Micron Only Forum
MU 252.40+2.2%3:59 PM EST
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To: DJBEINO who wrote (40221)10/21/1998 3:17:00 PM
From: Greg Jung   of 53903
 
Yipee! rally time!

Wednesday October 21, 2:46 pm Eastern Time

S&P cuts Micron Technology subordinated debt

(Press release provided by Standard & Poor's)

NEW YORK, Oct 21 - Standard & Poor's today lowered its ratings on
Micron Technology Inc. (see list below).

At the same time, Standard & Poor's affirmed its double-'B' bank loan rating on the company. All
ratings were removed from CreditWatch, where they were placed March 18, 1998.

The outlook is now negative.

biz.yahoo.com

OUTLOOK: NEGATIVE

Micron faces the challenges of integrating a large global operation and reengineering the acquired
facilities. Ratings already anticipate that Micron's financial performance in 1999 could be weaker than
in 1998 due to continued semiconductor sector stresses.

However, should industry conditions deteriorate beyond current trends, or should Micron's
profitability and cash flows decline further and impair its financial flexibility, ratings could be lowered, Standard & Poor's
said. OUTSTANDING RATINGS LOWERED AND REMOVED FROM CREDITWATCH 

                                             Rating
                                        To             From
Corporate credit rating                 BB-            BB
Subordinated debt                       B              B+
Universal shelf debt                    BB-/B          BB/B+
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