Moody's gives Stats ChipPAC notes Ba1

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

The outlook is stable.

"The (P)Ba1 rating reflects Stats ChipPAC's standalone credit fundamentals of Ba2 given its solid operating track record as evidenced by its moderate leverage position in the 2x range and proven ability of managing capex through the cycle to preserve cash," Moody's vice president Annalisa Di Chiara said in a news release.

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