TOKYO (Standard&Poor's) April 27, 2005--Standard&Poor's Ratings Services today raised its long-term local and foreign currency ratings on Korea's Hynix Semiconductor Inc. to 'B+' from 'B-' following the recent agreement of creditor banks to end their control over Hynix's operations earlier than the scheduled end in 2006. At the same time, Standard&Poor's raised its long-term local and foreign currency ratings on Hynix Semiconductor Manufacturing America Inc. to 'B+' from 'B-'. The outlooks on the ratings on both entities are stable. "The upgrade reflects expectations for normalization of Hynix's operations and considerably improved debt maturity profile upon refinancing of the restructured bank debt. Additionally, the rating reflects the company's solid position in the DRAM industry, and
