S&P lifts Hynix Semiconductor outlook to positive

Standard & Poor's said it revised to positive from stable the outlooks on its B+ long-term corporate credit ratings on Hynix Semiconductor Inc. and its U.S. subsidiary, Hynix Semiconductor Manufacturing America Inc.

At the same time, the agency said it affirmed its long-term corporate credit and senior debt ratings on the company.

"The outlook revision reflects the possibility of an upgrade in the next one to two years if Hynix continues to improve its consolidated financial profile by generating positive free cash flow, while making critical investments for new 12-inch wafer manufacturing capacity and maintaining its market position," said S&P credit analyst JaeMin Kwon.

S&P added that the rating on Hynix reflects the company's solid position in the dynamic random access memory market and good cost position in the volatile, competitive and highly capital-intensive memory industry.

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