Sun Microsystems: Junk Bonds?

By Deane Barker on September 30, 2003

Moody’s cuts Sun Micro’s senior debt ratings: I knew Sun was in trouble, but this puts them one step above junk bonds.

“Moody’s Investors Service on Tuesday cut its ratings on Sun Microsystems’s senior unsecured debt, citing the Santa Clara, California-based company’s continued performance decline and challenges toward achieving profitability.

Moody’s cut Sun Microsystems’ Baa1 senior unsecured ratings two notches to Baa3, one step from junk status.”

Bill’s getting a laugh out of this one.