Moody's downgraded Intel's senior unsecured rating on Thursday to BAA1 from its earlier A3 rating, citing concerns about the chipmaker's profitability.
https://finance.yahoo.com/news/moodys-downgrades-intels-senior-unsecured-223746528.html
5 replies (most recent on top)
Debt has gone from 35B to 50B under Pat in case you were wondering.
The debt is from all of the loans BK took out for stock buybacks. Which also helped boost his personal net worth.
This just the start. There will be delisting and other downgrades in the near future. This company isn’t close to hitting bottom yet. This is like watching a train wreck in slow motion. The initial derailment may have occurred but the pileup has a long way to go before this is just a steaming pile of wreckage. Next year will have more layoffs and announcements of delays in products and processes.
Good job guys! Good work!