HONG KONG (Standard&Poor's) Dec. 22, 2008--Standard&Poor's Ratings Services today lowered its long-term corporate credit rating on Korea-based MagnaChip Semiconductor LLC (MagnaChip) to 'SD' from 'CCC', reflecting the fact that MagnaChip had failed to make several interest payments that were required to be made on Dec. 15, 2008, on issued debt. Concurrently, Standard&Poor's lowered its 'CCC' ratings on the company's US$200 million and US$300 million notes, and its 'CC' rating on the company's US$250 million notes, to 'D'. All of the above ratings were removed from CreditWatch with negative implications, where they had been placed on Oct. 16, 2008. Ratings List Downgraded; CreditWatch/Outlook Action To From MagnaChip Semiconductor LLC Corporate Credit Rating SD/-- CCC/Watch Neg/--
