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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (27918)	1/15/1998 7:00:00 PM
From: VICTORIA GATE, MD	Respond to of 1583400

Moody's may cut Advanced Micro Devices (Press release provided by Moody's Investors Service). NEW YORK, Jan 15 - Moody's Investors Service placed the credit ratings of Advanced Micro Devices, Inc. (AMD) under review for possible downgrade. The review will focus on AMD's ability to improve the level and sustainability of operational cash flow in addition to the company's plans to bolster its declining liquidity position and to fund its ongoing capital investment in its semiconductor fabrication facilities. Moody's noted that the all of the debt issues under review are secured by the company's semiconductor facility in Austin, Texas, known as Fab 25, which is used to manufacture its K6 microprocessor. Ratings under review for possible downgrade include: Senior secured -- $400 million at Ba1 Senior secured bank term loan -- $250 million at Ba1 Senior secured revolving credit -- $150 million at Ba1 Advanced Micro Devices, Inc., headquartered in Sunnyvale, California, designs and manufactures microprocessors, flash memory, programmable logic devices and other semiconductors products. --------------------------------------------------------------------------------