...January 3, 2024 HONG KONG (S&P Global Ratings) Jan. 3, 2024--S&P Global Ratings today assigned its '###-' long-term issue rating to the U.S.-dollar-denominated senior unsecured notes that SK Hynix Inc. proposes to issue. SK Hynix will use the proceeds for general corporate purposes, including repayment of outstanding borrowings. The ratings on the notes are subject to our review of the final documentation. We rate the proposed senior unsecured notes the same as the long-term issuer credit rating on SK Hynix (###-/Stable/--). This is because we do not foresee any material structural or contractual subordination risks in the company's capital structure. As of Sept. 30, 2023, SK Hynix's capital structure consisted of Korean won (KRW) 26.7 trillion of unsecured debt at the parent level and KRW4.8 trillion of debt at various subsidiaries. We expect SK Hynix's profitability and credit metrics to improve significantly over the next six to 18 months. The company's solid position in the rapidly...
