MUMBAI (Thomson Financial) - Standard & Poor's said it placed its 'B'
corporate credit rating and other ratings on Palm Inc. on negative watch citing
the company's declining revenues and profitability levels, which have fallen
significantly below earlier expectations.
Palm Inc reported negative EBITDA for the November 2007 and February 2008
quarters, in part because of a market shift towards its lower-priced products,
S&P noted.
However, the company's cash balance remain adequate for near to intermediate
term operations, S&P added.
TFN.newsdesk@thomson.com
ach/ssa
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