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S&P cuts MEMC Electronic Materials' (WFR -3.6%) credit rating two notches to B+ from BB, two...

S&P cuts MEMC Electronic Materials' (WFR -3.6%) credit rating two notches to B+ from BB, two levels below investment grade, citing “continued weakening of the solar power sector." MEMC says it is disappointed with S&P's move, "but we are comfortable that our cash and liquidity position is sufficient to meet our current cash need."
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