TOKYO (Standard&Poor's) Aug. 12, 2004--Standard&Poor's Ratings Services said today that its 'CCC+' long-term corporate credit rating on Hynix Semiconductor Inc. remains on CreditWatch with positive implications, following the announcement by the company that it will invest in a US$2 billion joint-venture plant in China. The 'CCC+' long-term corporate and senior unsecured debt ratings on Hynix Semiconductor Manufacturing America Inc. also remain on CreditWatch with positive implications. The ratings were placed on CreditWatch on June 2, 2004, following the announcement by Hynix's creditor banks that they had accepted an increased offer from Citigroup to purchase Hynix's remaining nonmemory chip division. "Hynix's investment of about US$500 million in the China project should be manageable, given favorable conditions for
