TOKYO (Standard&Poor's) June 12, 2007--Standard&Poor's today assigned its 'BB-' rating on Hynix Semiconductor Inc.'s (BB-/Stable/--) proposed US$500 million global bonds maturing in 2017, which will replace the currently rated seven-year notes issued in 2005. The rating on the senior unsecured notes is subject to final documentation. The rating on Korea-based Hynix reflects the severe pricing pressures and the cyclical, capital-intensive nature of the commodity DRAM industry from which the company derives the bulk of its revenues. However, these industry risks are mitigated by the company's strong market share and good cost position, as well as its improving market position in the NAND flash industry. Hynix has the second-largest market share of 22% in the global DRAM
