HONG KONG (S&P Global Ratings) Jan. 7, 2019--S&P Global Ratings today withdrew our rating on ASM Pacific Technology Ltd. (ASMPT) at the company's request. The issuer credit rating was 'BB+' and outlook was stable at the time of the withdrawal. Our rating had reflected our view of ASMPT's good market position in the volatile semiconductor backend equipment and surface-mount technology businesses, and the Hong Kong-listed company's low debt leverage. We also expected ASMPT to maintain its liquidity position despite the potential cash redemption of the company's Hong Kong dollar (HK$) 2.2 billion convertible bonds due in March 2019. ASMPT has positive free operating cash flows and healthy cash balances. The stable outlook at the time of the withdrawal reflected our
