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Moody's reviews MEMC
Moody's Investors Service said it placed the long-term corporate family, probability of default and senior note ratings of MEMC Electronic Materials, Inc. under review for downgrade.
Moody's also lowered the speculative grade liquidity rating to SGL-4 from SGL-3.
The review follows MEMC's much larger than expected cash burn during the first quarter of 2012 and the announced departure of several senior executives, according to the agency.
The SGL downgrade reflects the lower than expected cash position, the agency said.
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