Aug 8 (Reuters) - Moody's downgraded Intel's ( INTC )

senior unsecured rating on Thursday to BAA1 from its earlier A3

rating, citing concerns about the chipmaker's profitability.

The unsecured ratings outlook has been changed to

negative from stable, Moody's said. It affirmed Intel's ( INTC ) Prime-2

short-term commercial paper rating.

The downgrade, coupled with a change in outlook to

negative, highlighted the pressure on Intel's ( INTC ) credit profile in

the near term.

"The downgrade of the ratings reflects our expectations

for Intel's ( INTC ) significantly weaker profitability over the next 12

to 18 months," Moody's said.

It expects Intel's ( INTC ) total ratio of debt to interest,

taxes, depreciation, and amortization to "approach 7x" by the

end of 2024 and return to 4x by 2025.

Intel ( INTC ) currently has a total debt-to-EBITDA ratio of 4.35

for the last 12 months, according to LSEG data.

(Reporting by Arsheeya Bajwa in Bengaluru and Max A. Cherney in

San Francisco; Editing by Anil D'Silva and Pooja Desai)