S&P: Silicon Graphics cut to negative

Standard & Poor's said it affirmed its CCC+ corporate credit and senior secured ratings and CCC- subordinated debt rating on Silicon Graphics, Inc. and revised its outlook to negative from developing.

S&P said the outlook revision reflects weak revenues and operating performance in the March quarter and limited liquidity.

The ratings on Silicon Graphics reflect a leveraged financial profile, declining annual revenues and negative free operating cash flow, according to S&P.

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