Summary: SK Hynix Inc.

Good position in the global market for dynamic random access memory (DRAM) and NAND flash memory Satisfactory technological capabilities and good operating efficiency Exposure to cyclical and rapidly changing memory semiconductor industry Low use of debt with strong operating cash flow Potential volatility in cash flow and leverage Significant capital expenditure needs to maintain technological competitiveness The positive outlook on SK Hynix Inc. reflects our view that there is more than one-third likelihood we will raise the rating if the company continues to generate strong free cash flows and maintain low use of debt to buffer industry volatility over the next 12 months. We may raise the rating on Hynix if the following conditions occur: Hynix demonstrates more stable operating

...Outlook: Positive The positive outlook on SK Hynix Inc. reflects our view that there is more than one-third likelihood we will raise the rating if the company continues to generate strong free cash flows and maintain low use of debt to buffer industry volatility over the next 12 months....

Summary