On Nov. 9, 2007, Standard&Poor's Ratings Services raised its long-term corporate credit rating on Hon Hai Precision Industry Co. Ltd. (Hon Hai) to 'A-' from 'BBB+'. The outlook is stable. The upgrade reflects Hon Hai's strengthened market position and robust earnings performance, which is supported by its strong component capability, leading production technology, and an unrivalled vertical integration production process. The strength of Hon Hai's business position should enable the company to maintain a modest financial risk profile over the medium term. Hon Hai is the world's largest provider of electronics manufacturing services. The company has built an entrenched market position over the years by expanding its vertically integrated production model and strengthening its component manufacturing capabilities. As
