Intel’s credit risk gauges jumped sharply after the company’s earnings release, with the cost of insuring its debt against default climbing to a record level. The move followed Intel’s warning that it expects net cash outflow this year as weakness in the personal computer, or PC, market continues to weigh on the business. According to Markit data, Intel’s five-year credit default swap, or CDS, spread widened by 17.5 basis points to 124.75 basis points. The spread was also on track for its biggest single-day increase since October 2022. The report was carried by Odaily and cited Jin10 as the source of the market data update.
Intel (INTC.O) saw the cost of insuring its debt against default rise to a record high after the company released its earnings.
Earlier, Intel had warned that it expects net cash outflow this year because of weakness in the personal computer, or PC, market.
Markit data showed Intel’s five-year credit default swap (CDS) spread widened by 17.5 basis points to 124.75 basis points, a record level. The move was also on track to mark the biggest single-day increase since October 2022.
The update was reported by Odaily, citing Jin10.
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