S&P: Adaptec cut to negative

Standard & Poor's said it revised its outlook on Adaptec Inc. to negative from stable and affirmed the corporate credit rating at B+ and subordinated debt rating at B-.

The outlook revision follows the company's earnings announcement for the quarter ended March 31 and the expectation that current weakened profitability trends will continue.

S&P said the ratings on Adaptec Inc. reflect the challenges the company faces in fortifying and transitioning its business profile in the face of commoditization and deterioration in the core small computer systems interface business.

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