S&P trims Foundry JV Holdco

S&P said it lowered its ratings on Foundry JV Holdco LLC’s $1.1 billion of senior secured notes to BBB+ from A-.

The downgrade follows a similar action on Intel Corp. to A- from A on Friday, S&P said. Foundry is a joint venture of Intel and Brookfield Infrastructure Fund V GP LLC.

The outlook is negative.

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