...HONG KONG (S&P Global Ratings) June 22, 2017--S&P Global Ratings today said that its rating on SK Hynix Inc. (Hynix; ###-/Stable/--) is not affected by the Korea-based memory semiconductor manufacturer's potential non-equity investment related to the acquisition of Toshiba Memory Corp. Hynix has tied up with Bain Capital Private Equity LP, which is part of a consortium chosen as the preferred bidder for Toshiba Memory Corp. We expect Hynix's investment, if the deal goes through with Hynix's partial non-equity investment under the current consortium structure, to have a limited impact on the company's financial risk profile. This is mainly because of Hynix's strong recent operating performances and free cash flows on the back of a favorable global memory chip market. Also, Hynix's large cash holdings of Korean won (KRW) 4.9 trillion as of March 31, 2017, should support its financial metrics, in our view. We expect near-term benefits from the deal to Hynix's competitive position or profitability...
