Moody's cuts Intersil liquidity

Moody's Investors Service said it lowered the speculative grade liquidity rating of Intersil Corp. to SGL-2 from SGL-1.

All other ratings including the Ba2 corporate family and senior secured rating and Ba3 probability of default rating, are unchanged. The outlook is stable.

Moody's said the SGL downgrade reflects an expectation that revenue and EBITDA will remain depressed over the next several quarters due to weak end market demand across all of its product segments, which tend to be in the volatile segments of the analog semiconductor industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.