Standard&Poor's sees increasing uncertainties concerning the outcome of a delay in MagnaChip's filing of its 2013 financial results and its proposed restatement of previous results, and the likely negative effect on the company's business and financial conditions. We also believe the incorrect recognition of revenue on certain transactions that has led to the need for the proposed restatement exposes weakness in the company's internal controls. We are revising our outlook on our long-term corporate credit rating on MagnaChip to negative. We are affirming our 'BB-' long-term corporate credit and debt ratings on the company. On May 14, 2014, Standard&Poor's Ratings Services revised its outlook on its 'BB-' long-term corporate credit rating on Korea-based analog and mixed-signal
