TOKYO (Standard&Poor's) Aug. 21, 2001--Standard&Poor's today placed its single-'B' long-term corporate credit ratings on Korea-based Hynix Semiconductor Inc. (Hynix) and its subsidiary Hynix Semiconductor Manufacturing America Inc. on CreditWatch with negative implications. The CreditWatch placement reflects Standard&Poor's heightened concerns over the severity of Hynix's liquidity difficulties in the face of a recent plunge in the price of dynamic random-access memory products--the company's mainstay business. Korea Exchange Bank, Hynix's main creditor bank, is reported to be discussing a new financial assistance package with the company's other creditor banks. Standard&Poor's will review its ratings on Hynix and Hynix Semiconductor Manufacturing America as details of the refinancing package become available. RATINGS PLACED ON CREDITWATCH WITH
