Published 12/10/2008
by Eric Savitz
at BARRONS.com: Tech Trader Daily
Moody’s this afternoon cut its corporate family debt rating on Advanced Micro Devices (AMD) to B3 from B2 following the company’s weak Q4 financial outlook .
Moody’s said AMD’s revenue will remain depressed through 2009 and that its profitability and cash flow will remain negative, pressuring the company’s liquidity. Moody’s said the outlook for the company is negative.
AMD today fell 7 cents, or 3.1%, to $2.20.
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