S&P revises SK Hynix view to positive

S&P said it revised the outlook on SK Hynix Inc. to positive from stable and affirmed the BBB- long-term issuer credit rating on the company.

At the same time, S&P raised Hynix's stand-alone credit profile to bbb- from bb+.

“The positive outlook reflects our view that the market for memory chips will be favorable for next one to two years. This should underpin Hynix's good operating performance and positive free cash flows, with a debt-to-EBITDA ratio below 1.0x despite the pending acquisition,” S&P said in a news release.

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