Intel credit risk gauge hits record high after results
INTC•The cost of insuring Intel debt against default reached a record after the company warned it would burn cash this year because of the faltering PC market. Five-year credit default swaps widened 17.5 basis points to 124.75 basis points.
1. Credit swaps widen
Five-year credit default swaps on Intel widened 17.5 basis points to a record 124.75 basis points and were on pace for their biggest one-day jump since October 2022.
