Standard&Poor's sees growing uncertainties over the timing and scope of MagnaChip's restatement and filing of its financial statements and the potential negative effect on the company's business and financial conditions. We believe that the expanded scope and uncertain timing of its financial restatements demonstrates substantial weakness in the company's internal controls, financial reporting, and transparency. We are lowering our long-term corporate credit and debt ratings on MagnaChip to 'B+' from 'BB-'. The negative outlook reflects increasing uncertainties over the timing and scope of the company's financial restatements and the impact on its business and financial conditions. HONG KONG (Standard&Poor's) Aug. 27, 2014--Standard&Poor's Ratings Services today said it has lowered its long-term corporate credit and
