New Delhi, Aug. 5 -- Fitch Ratings Inc. has downgraded Intel's credit to one notch, subject to the current demand challenges, as per the note shared by the agency. The credit rating agency downgraded Intel's Long-Term Issuer Default Rating (IDR) and senior unsecured ratings to 'BBB', previously, it was 'BBB+.'

The 'BBB' rating given by Fitch highlights a negative outlook as a 'BBB-rated' entity might face challenges while maintaining its financial commitments during economic downturns or adverse scenarios.

Fitch rating downgrade pointed towards the challenging demand environment, which is acting as a roadblock to profitability. The agency said in an official note, "Credit metrics remain weak and will require both stronger end markets and ...