INTC · 10-K · 2025A · Full report
Interest Rate and Refinancing Exposure
INTEL CORP · 2026-01-23 · Importance 47 · Surprise 60
In August 2025 a major credit rating agency downgraded Intel's corporate credit rating from BBB+ to BBB, citing execution risks tied to the technology roadmap and foundry strategy, delayed deleveraging, and weaker than expected demand. The company noted the downgrade may affect future borrowing costs and access to capital markets. Intel still maintains diversified sources of liquidity including $37.416 billion of cash and short-term investments, a $7.0 billion revolving facility, and authorized commercial paper capacity of $10.0 billion. Intel expects to replace or amend a 364‑day $5.0 billion facility prior to its January 2026 maturity, which represents a near-term refinancing exposure.
Key facts
- In August 2025 a major credit rating agency downgraded Intel's corporate credit rating from BBB+ to BBB citing execution risks tied to technology roadmap and foundry strategy, delayed deleveraging and weaker than expected demand.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | probable | — | In August 2025 a major credit rating agency downgraded Intel's corporate credit rating from BBB+ to BBB citing execution risks tied to… |