HONG KONG (Standard&Poor's) July 15, 2013--Standard&Poor's Ratings Services today assigned its 'BB-' issue-level ratings to Korea-based nonmemory chipmaker MagnaChip Semiconductor Corp.'s (MagnaChip; BB-/Stable/--) proposed $225 million senior unsecured notes. The company intends to use the proceeds to refinance existing senior unsecured notes. The ratings on MagnaChip reflect our assessment of the company's business risk profile as "weak," which incorporates volatility in the semiconductor industry, potential variability in its operating performance, and improving business diversification. We also view the company's financial risk profile as "significant" reflecting the company's moderate debt and the relatively small size of its business. The stable outlook reflects our expectation that the company will maintain its stable financial risk profile over the next
