S&P revises Intel view to stable, cuts short-term ratings

S&P said it revised its outlook on Intel Corp. to stable from positive and affirmed the A+ long-term issuer credit and senior unsecured debt ratings.

S&P also revised its liquidity score to strong from exceptional to reflect the decline in cash uses over sources. As a result, S&P said it lowered its short-term and commercial paper ratings to A-1 from A-1+.

“The stable outlook reflects Intel's leading scale among semiconductor manufacturing peers and good prospects for continued product diversification and consistent cash flow generation despite significant capital investments, with our expectation that it will maintain a generally conservative financial policy,” S&P said in a news release.

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