MEMC (WFR) said late yesterday it's "disappointed" with Moody's decision to downgrade the...

|By:, SA News Editor

MEMC (WFR) said late yesterday it's "disappointed" with Moody's decision to downgrade the company's debt, as a result of which the company "will be limited from making [certain] additional borrowings." Q2 cash needs which would have been met under a specific borrowing facility will now likely result in a cash balance reduction of $15M-20M.