NEW YORK (Standard&Poor's) Oct. 12, 2001--Standard&Poor's today revised its outlook on Lam Research Corp. to negative from stable. At the same time, Standard&Poor's affirmed the ratings on the company (see list below). The ratings on Lam Research reflect its good, but not leading, position in the volatile semiconductor capital goods industry, as well as its good liquidity. The revised outlook recognizes Lam's declining order backlog as market conditions continue to deteriorate, indicative of likely substantially weaker revenues in forthcoming quarters. Fremont, Calif.-based Lam Research manufactures equipment to deposit, etch, and polish microscopically thin layers on the surface of silicon wafers, as part of the semiconductor manufacturing process. The company has materially refreshed its product
