Moody’s raises debt rating for Hynix Inc.
Hynix Semiconductor Inc., the world’s second-largest memory chipmaker, had its debt rating raised one level by Moody’s Investors Service, which cited the Korean company’s improved finances.Hynix’s corporate family rating was raised to Ba2, or two levels below investment grade, from Ba3, Moody’s said in a statement yesterday. The outlook on the rating is stable, it said. The upgrade reflects Hynix’s “improved financial profile and its ability to sustain its sound operating performance,” Moody’s said in the statement. Earlier this week, Standard & Poor’s also raised Hynix’s debt rating by one level. Bloomberg
with the Korea JoongAng Daily
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