We expect MagnaChip to improve its operating performance over the next 12 months mainly due to steady growth in demand and good relationships with its key customers. We also expect the company to sustain its prudent financial policies over the next one to two years. We are raising our long-term corporate credit and debt ratings on MagnaChip to 'BB-' from 'B+'. The stable outlook reflects our expectation that the company will maintain its stable financial risk profile over the next one to two years. On April 15, 2013, Standard&Poor's Ratings Services raised its long-term corporate credit and debt ratings on Korea-based nonmemory chipmaker MagnaChip Semiconductor Corp. (MagnaChip) to 'BB-' from 'B+'. The outlook on the long-term corporate credit
