Ratings On Sun Microsystems Affirmed At 'BB+'; Outlook Revised To Negative - S&P Global Ratings’ Credit Research

Ratings On Sun Microsystems Affirmed At 'BB+'; Outlook Revised To Negative

Ratings On Sun Microsystems Affirmed At 'BB+'; Outlook Revised To Negative - S&P Global Ratings’ Credit Research
Ratings On Sun Microsystems Affirmed At 'BB+'; Outlook Revised To Negative
Published Nov 10, 2008
Published Nov 10, 2008
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (Standard&Poor's) Nov. 10, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'BB+' corporate credit and senior unsecured ratings on Santa Clara, Calif.-based Sun Microsystems Inc. In addition, we revised the outlook to negative from stable. "The outlook revision reflects continued declines in revenues and profitability, with the likelihood of a challenging IT spending environment extending into 2009, which could further dampen operating performance," stated Standard&Poor's credit analyst Phillip Schrank. First-quarter 2009 results (fiscal-year-end June) included a 7% sales decrease, which is the third sequential quarter that Sun's revenue declined, and a net loss of $65 million (excluding a $1.45 billion non-cash goodwill impairment charge). The rating on Sun reflects the company's

  
Report Type:

Ratings Action

Ticker
JAVA
Issuer
Sun Microsystems Inc.
GICS
Computer Hardware (45202010)
Sector
Collateralized Debt Obligations, Commercial MBS, Corporations, Global Issuers, High Technology, Structured Finance
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Ratings On Sun Microsystems Affirmed At 'BB+'; Outlook Revised To Negative" Nov 10, 2008. Alacra Store. Dec 11, 2017. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Sun-Microsystems-Affirmed-At-BB-Outlook-Revised-To-Negative-682419>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings On Sun Microsystems Affirmed At 'BB+'; Outlook Revised To Negative Nov 10, 2008. New York, NY: Alacra Store. Retrieved Dec 11, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Sun-Microsystems-Affirmed-At-BB-Outlook-Revised-To-Negative-682419>
  
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