S&P puts Nvidia on negative watch

Standard & Poor's said it placed Nvidia Corp.'s BB- corporate credit rating on CreditWatch with negative implications following the company's announcement that it will be unable to file its 10-Q financial statements for the quarter ended in July by the extended deadline of Sept. 13. The filing delay has been caused by a voluntary and ongoing review of the company's stock option practices.

S&P said the CreditWatch listing reflects uncertainties regarding the outcome of the stock option review. While it is too early to assess the outcome of the investigations, the agency said Nvidia's liquidity (cash and investments totaled $955 million at April 30) should cushion the downside risk to the rating.

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