TOKYO (Standard&Poor's) Dec. 14, 2004--Standard&Poor's Ratings Services today assigned its 'B+' corporate credit rating to MagnaChip Semiconductor LLC, the former nonmemory chip division of Hynix Semiconductor Inc. (B-/Stable/--). The outlook on the rating on MagnaChip is stable. Standard&Poor's also assigned its 'B+' rating to MagnaChip's proposed senior secured US$100 million revolving credit facility, and its US$500 million in aggregate floating and fixed rate second priority senior secured notes due 2011. At the same time, Standard&Poor's assigned its 'B-' rating to the US$250 million senior subordinated notes due 2012. The subordinated notes are rated two notches below the credit rating of MagnaChip in accordance with Standard and Poor's policy of signaling the lower
