On April 11, 2008, Standard&Poor's Ratings Services revised its CreditWatch implications on the 'BB-' corporate credit rating on Lam Research Corp. to CreditWatch positive from CreditWatch negative. The revision to CreditWatch positive reflects the company's stable operating performance during recent periods and cumulative net adjustments, which did not materially affect its financial profile or liquidity, which are strong for the rating. Fremont, Calif.-based Lam Research recently filed financial statements for its fiscal year ended June 2007, as well as for the first and second quarters of 2008. The rating was initially placed on CreditWatch with negative implications on Aug. 27, 2007, following the company's announcement that it would be unable to file its 2007 form 10-K on time.
