TOKYO (Standard&Poor's) April 14, 2004--Standard&Poor's Ratings Services today affirmed its 'CCC+' long-term corporate credit rating on Hynix Semiconductor Inc. and removed the rating from CreditWatch, where it was placed on Nov. 28, 2003. At the same time, Standard&Poor's affirmed its 'CCC+' long-term credit ratings on Hynix Semiconductor Manufacturing America Inc. and also removed the ratings from CreditWatch. The outlooks on the ratings are positive. The affirmations follow the announcement by Hynix Semiconductor Inc. that it has cancelled plans to sell its System IC business, the company's remaining nonmemory chip division, due to an undervalued sales price amid improving industry conditions. "Hynix's credit profile is expected to continue strengthening due to ongoing restructuring efforts and
