Moody's rates STATS ChipPAC Ba1

Moody's Investors Service said it assigned a Ba1 rating to STATS ChipPAC Ltd.'s proposed dollar-denominated senior unsecured bonds.

The agency also said it affirmed the company's Ba1 corporate family and senior unsecured debt ratings.

The outlook is stable.

The company plans to use the bond proceeds for debt refinancing.

The refinancing will improve the company's credit profile, Moody's said, and the company's balance sheet liquidity is expected to remain adequate.

After the debt refinancing, the company's credit metrics, including a debt-to-EBITDA ratio of 1.8x to 2x, will continue to position the company at a baseline credit assessment of Ba2.

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