Standard&Poor's published its revised corporate ratings criteria Nov. 19, 2013. We are raising our long-term corporate credit rating on Hynix to 'BB+' from 'BB' and are removing the ratings from CreditWatch, where we placed them with positive implications Nov. 26, 2013, following our criteria revision. The upgrade reflects our reassessment of risk in the global memory semiconductor sector and Hynix's improving competitive position and profitability, but we continue to view business cycles in the sector as a key risk factor. The stable outlook is based on our expectation that the company's good position in the global memory semiconductor market, more stable DRAM prices, and market consolidation will largely sustain its EBITDA margins and financial ratios in the next
