Fitch downgrades Intel (INTC.US) credit rating to "BBB" with a "negative" outlook.

Wisdom Finance APP learned that Fitch Ratings has downgraded Intel's (INTC.US) long-term issuer default rating (IDR) and senior unsecured debt rating from "BBB+" to "BBB", just two levels above junk status, and confirmed its short-term IDR and commercial paper rating as "F2". Fitch also stated that Intel's rating outlook is "negative", reflecting a demand environment that is more severe than previously expected, limiting the tech giant's profit growth.