By Daniel Hunter
Twitter's share price has fallen as much as 6% after news that US ratings agency Standard & Poor's (S&P) gave its debt "junk" rating.
S&P gave Twitter a "speculative" rating of BB-, three levels below investment standard. The ratings agency said Twitter investment with little return was a key reason behind the decision.
"The company is investing very aggressively in growth. Depending on the level of business reinvestment, Twitter may not generate positive discretionary cash flow until 2016," S&P said in a note.
Twitter's shares have fallen by 37% this year as it continues to struggle to turn its popularity into profits for shareholders.
In October, Twitter reported a 7% drop in timeline views despite a 23% increase in active users. It suggests that whilst more people are joining Twitter, people are using it less often.
The social media giant also said that revenues for the final quarter of the year might miss forecasts of $448.8m (£283m).
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