TOKYO (Standard&Poor's) Oct. 7, 2004--Standard&Poor's Ratings Services today raised its long-term local and foreign currency ratings on Korea's Hynix Semiconductor Inc. to 'B-' from 'CCC+' following the completed sale of the company's non-memory division. The ratings were removed from CreditWatch, where they were placed on June 2, 2004. 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 'CCC+' and removed the ratings from CreditWatch. The outlooks on the ratings are stable. "Hynix's credit profile is expected to continue strengthening, with improved earnings supported by favorable conditions for the memory business and net cash receipt of around Korea won 530 billion, and
