Fitch cuts AMD unsecured debt to B/RR4

Fitch Ratings said it has taken the following actions on the ratings for Advanced Micro Devices Inc.'s: affirmed long-term issuer default rating at B and downgraded senior unsecured debt to B/RR4 from B+/RR3.

The outlook is revised to negative from stable.

Fitch noted that its actions affect about $2 billion of total debt.

The negative outlook reflects Fitch's belief that AMD's operating results will remain pressured through at least the near-term driven by a combination of cyclical and secular headwinds.

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