Fitch changes Advanced Semiconductor view

Fitch Ratings said it affirmed ASE Technology Holding Co., Ltd.'s and its subsidiary Advanced Semiconductor Engineering, Inc.'s long-term foreign-currency issuer default ratings at BBB and revised the outlook to negative from stable.

The negative outlook reflects Fitch's expectation that the company’s FFO adjusted gross leverage will remain relatively high due to production disruptions in first quarter 2020 and likely lower smartphones sales as the Covid-19 outbreak and U.S.-China trade war dampen consumer sentiment, the agency said.

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