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Intel credit rating drops to two steps above junk status amid worsening struggles | Is Intel's ship sinking, or can it still course-correct?
Fitch carried out an assessment on Intel that found the company was facing increasing challenges in maintaining demand for its products. It also noted the growing competition...
For Intel to recover its previous credit rating, the company will require both stronger end markets and successful product ramps, along with net debt reduction over the next 12-14 months, Fitch wrote. In a public regulatory filing that appeared a few weeks ago, the company warned that it could slow down or even halt development of the advanced 1.4nm-class technology unless it secures a significant external customer and meets critical project milestones. Intel expects to lay off approximately 24,000 workers throughout all of 2025 as part of CEO Lip-Bu Tan's cost-cutting strategy, while plans for large new chipmaking "mega-fabs" in Germany and Poland have been put on hold.
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