HONG KONG (Standard&Poor's) Dec. 26, 2008--Standard&Poor's Ratings Services today lowered to 'B+' from 'BB-' its long-term corporate credit and senior unsecured debt ratings on Korea-based Hynix Semiconductor Inc. (Hynix) to reflect the extremely challenging market situation and the rapid deterioration in the company's financial risk profile. The outlook on the long-term corporate credit rating is negative. The downgrade reflects our belief that the company will suffer significant losses over the next three to four quarters, including the fourth quarter of fiscal 2008 (ending Dec. 31, 2008), due to the severe market conditions. Indeed, the DRAM and NAND flash memory markets, where the company generated 77% and 23%, respectively, of its revenue during the third quarter of
