SONY rating cut again by S&P. *Update: Moodys follow suit.

[Soundwave]

How does this impact the development of the PS4?

Obviously it's not good for Sony, but I imagine PS4 is a relatively straight forward piece of kit, probably mostly off the shelf PC parts (a 28nm 7xxx GPU, maybe 2GB GDDR5 + 2GB DDR3, decent CPU) optimized for gaming.

Shouldn't be too hard to sell at $349.99 (basic)/$399.99 (premium) at a break even cost/slight loss initially by November 2013.

They are obviously are in tough to match Microsoft for marketing and other things like matching MS if they start bidding for 720 exclusives (that's uh-oh time for Sony), but they should be able to get PS4 to market without too much fuss.