Fitch rates Amkor BB

Fitch Ratings said it assigned first-time ratings to Amkor Technology, Inc. with a long-term issuer default rating of BB and a senior unsecured rating of BB/RR4. The outlook is stable.

“The ratings and outlook reflect Amkor's leading share positions and long-term customer relationships in semiconductor packaging markets from ongoing investments in advanced technologies and product breadth, secular market growth trends from customer outsourcing and semiconductor content growth, and conservative financial profile. Meaningful customer concentration, particularly in smartphone markets, demand volatility related to short life cycles, and low cash flow margins for the semiconductor sector weigh on the rating,” Fitch said in a press release.

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