S&P Global Downgrades Intel's Credit Rating Amid Slow Recovery and Management Changes

Reported 16 days ago

S&P Global Ratings has downgraded Intel Corp's credit rating from 'BBB+' to 'BBB' due to a slow business recovery and uncertainties resulting from recent management changes. Despite maintaining a stable outlook, S&P highlighted that CEO Pat Gelsinger's departure raises doubts about the execution of Intel's turnaround strategy, as the company's revenue remains flat at $38.84 billion for the first nine months of the year, falling below expectations.

Source: YAHOO

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