S&P may boost Stats ChipPAC

Standard & Poor's said it placed its BB foreign- and local-currency corporate credit ratings on Stats ChipPAC Ltd. on CreditWatch with positive implications, following AAA-rated Temasek Holdings Pte. Ltd's subsidiary, Singapore Technologies Semiconductors Pte. Ltd. announcement of a conditional cash offer for the remaining shares in Stats ChipPAC and its $115 million convertible notes due 2008 and $150 million 2.5% convertible notes due 2008.

In resolving the watch, S&P said it will assess Temasek's final equity holding on Stats ChipPAC and any changes in the business and financial risk profile of the company. The agency said it also will assess Temasek's investment and business plans for the company in the medium to long term if it becomes a majority or wholly owned subsidiary of Temasek.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.