Moody’s assigns Baa2 to SK Hynix notes

Moody's Investors Service said it assigned a Baa2 rating to SK Hynix Inc.’s planned senior unsecured notes.

"SK Hynix's Baa2 ratings are underpinned by the company's solid competitive position in the global memory chip industry. Its long-standing number two position in the industry and technological prowess in the oligopolistic DRAM segment will continue to support its scale and generally solid mid-cycle profitability," said Sean Hwang, a Moody's vice president and senior analyst, in a press release.

SK Hynix will use the proceeds for general corporate purposes, including the repayment of borrowings.

The outlook on SK Hynix is negative.

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