Moody’s revises SK Hynix view to negative

Moody's Investors Service said it revised its outlook for SK Hynix Inc. to negative from stable.

“The negative outlook reflects SK Hynix's declining financial flexibility, as evidenced by a significant increase in net debt during the first half of 2019, and the uncertainty over the company’s ability to generate free cash flow through the ongoing industry downturn,” said Sean Hwang, a Moody's analyst, in a press release.

SK Hynix reported net debt of KRW 5.6 trillion as of June 30 compared with net cash of KRW 3.1 trillion as of Dec. 31.

Moody’s affirmed the company’s Baa2 rating.

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