Standard&Poor's believes that financial and liquidity risks for MagnaChip could heighten significantly if its financial reporting and restatements take longer than the company has said. We also see a higher likelihood of the restatements more significantly denting the company's business and financial conditions than we had previously expected. We are placing our 'B+' long-term corporate credit and debt ratings on MagnaChip on CreditWatch with negative implications. We aim to resolve the CreditWatch by February 2015 if the company completes its financial restatements as planned. On Dec. 10, 2014, Standard&Poor's Ratings Services placed its 'B+' long-term corporate credit and debt ratings on Korea-based analog and mixed-signal semiconductor manufacturer MagnaChip Semiconductor Corp. (MagnaChip) on CreditWatch with negative implications.
