We expect MagnaChip will modestly improve its profitability and sustain its levels of cash over the next 12 months due to growing demand for its display solutions products and discontinuation of unprofitable operations. At the same time, we believe the company remains susceptible to nonpayments of interest and principal of its US$225 million outstanding debt due in 2021 because of its vulnerable profitability and cash flow. We are revising the outlook on MagnaChip to stable from negative. We are also affirming our 'CCC+' long-term corporate credit and debt ratings on the company. The stable outlook reflects our expectation that the company will be able to sustain its cash levels without significant liquidity distress over the next 12 months, primarily owing
