CHICAGO--(BUSINESS WIRE)--Fitch Ratings has downgraded Corning Incorporated's (Corning) long-term ratings, including the long-term Issuer Default Rating (IDR), to 'BBB+' from 'A-'. Fitch affirms the short-term IDR and Commercial Paper (CP) rating at 'F2'. The rating actions affect $7.3 billion of debt including the $2 billion revolving credit facility (RCF). The Rating Outlook is Stable. KEY RATING DRIVERS The ratings and Outlook reflect Corning's updated capital allocation strategy, under whic ......
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