Tokyo, Feb. 13, 2007--Standard&Poor's Ratings Services today lowered its corporate credit rating on MagnaChip Semiconductor LLC (MagnaChip) to 'B' from 'B+'. At the same time, Standard&Poor's lowered the rating on MagnaChip's senior secured debt to 'B' from 'B+' and rating on its senior subordinated notes due 2014 to 'CCC+' from 'B-'. The outlook on the long-term corporate credit rating is negative. "The downgrade reflects a significant drop in profitability and weakened liquidity, ongoing concerns over the company's vulnerability to hostile end market conditions and its prospects for a near-term recovery in its financial profile," said Standard&Poor's credit analyst Jae Min Kwon. The negative outlook reflects the possibility that the company's profitability and liquidity could
