Fitch: Hynix unaffected

Fitch Ratings said there is no immediate rating impact on SK Hynix (BB/stable) from its preliminary bid for Elpida Memory, Inc., which filed for bankruptcy protection in February.

While a debt-funded acquisition of Elpida is likely to be negative for Hynix's credit quality, there are too many uncertainties surrounding the transaction for Fitch to take any rating actions at this stage, the agency said. Hynix made a preliminary bid on March 30 and will decide whether to submit a binding bid in May after due diligence.

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