Fitch affirms Samsung

Fitch Ratings said it affirmed Samsung Electronics Co., Ltd.'s long-term foreign- and local-currency issuer default ratings at A+, along with its senior unsecured rating at A+.

The outlook is stable.

The affirmation reflects the company's solid operating results and financial profile during the financial year that ended December 2010, as well as an expectation that the company's credit profile will remain stable over the next 12 to 18 months, backed by its market leading positions and strong cash generation, Fitch said.

Despite prevailing price erosion in memory products, the rapid uptake of smart-devices will continue to drive demand growth for NAND and mobile DRAM, somewhat offsetting the weak demand associated with commodity DRAM, the agency said.

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