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S&P alters SK Hynix outlook to stable
S&P said it revised its outlook for SK Hynix Inc. to stable from negative and affirmed its BBB- issuer and senior unsecured ratings.
“We expect SK Hynix Inc.'s operating results will improve meaningfully over the next six to 18 months, given its lead in the rapidly expanding generative AI memory chips market, including high-bandwidth memory 3 (HBM3),” S&P said in a press release. SK Hynix is the only provider of HBM3 chips to Nvidia Corp.
The healthier outlook is based on an expectation that the company will meaningfully improve its profitability and credit metrics over the next six to 12 months such that its debt leverage will drop below the 2x threshold for the current rating, the agency said.
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