TOKYO (Standard&Poor's CreditWire) June 27, 2001--Standard&Poor's today raised its long-term ratings on Korea-based Hynix Semiconductor Inc. (Hynix) and its subsidiary Hynix Semiconductor Manufacturing America Inc. to single-'B' from single-'B'-minus and removed the ratings from CreditWatch. The ratings on Hynix were listed on CreditWatch at the time they were assigned, May 24, 2001. The ratings on Hynix Semiconductor Manufacturing America were placed on CreditWatch on March 7, 2001. The outlook on the ratings is stable. The rating action reflects a significant smoothing of Hynix's debt maturities, and hence a considerable lessening of its short-term liquidity pressures, following its successful sale of US$1.25 billion in new equity (about Korean Won (W)1.6 trillion). This sum exceeds the minimum amount
