AMD (AMD -14.4%) added to its losses after S&P put its BB- debt rating on watch for a...


AMD (AMD -14.4%) added to its losses after S&P put its BB- debt rating on watch for a possible downgrade in response to its Q3 warning. S&P believes AMD's leverage ratio will remain above 3x (up from 2.4x at the end of Q2), and thinks its cash balance is likely to deteriorate. Also, earlier today, Digitimes claimed AMD's new Z-60 (Hondo) notebook/tablet CPU hasn't seen much traction with PC OEMs, as Intel's Clover Trail scores numerous design wins. AMD had over $2B in debt as of June 30, along with $1.7B in cash/investments. (earlier)
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