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December 12, 2007 |
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HYNIX SEMICONDUCTOR: May Post 4th Qtr. Loss on Low Chip Prices Hynix Semiconductor Inc. may post a fourth-quarter loss because of lower prices, Bloomberg News reports. According to the report, the company said that "In the absence of a market turnaround in semiconductor prices, we will likely record operating and net losses for the fourth quarter." Kevin Cho of Bloomberg writes that according to Dramexchange Technology Inc., Asia's biggest spot market for semiconductors, prices of the benchmark computer memory chip have plunged 84% this year amid a glut. James Kim, head of investor relations at Hynix, told Bloomberg that the company can only confirm whether they had a profit or a loss once the quarter ends. About Hynix Semiconductor Inc. Headquartered in Echon, South Korea, Hynix Semiconductor Inc -- http://www.hynix.com/ -- is a semiconductor manufacturer. Through a merger with LG Semiconductor in 1999, Hynix Semiconductor now has the world's largest dynamic random access memory chip production capacity as well as the industry's best technical development capacity by fully exploiting synergies resulting from the historical integration of both companies. The company has operations in Russia, and the United States. * * * The Troubled Company Reporter-Asia Pacific reported on June 19, 2007, that Moody's Investors Service upgraded to Ba2 from Ba3 Hynix Semiconductor Inc's senior unsecured bond rating and corporate family rating. At the same time, Moody's assigned a Ba2 senior unsecured bond rating for Hynix's proposed US$500 million issuance. The outlook for the ratings is stable. On June 14, 2007, Standard & Poor's assigned its 'BB-' rating on Hynix Semiconductor Inc.'s proposed US$500 million global bonds maturing in 2017, which will replace the currently rated seven- year notes issued in 2005. The TCR-AP reported on June 14, 2007, that Fitch Ratings assigned an expected rating of 'BB' to the proposed issue of US$500 million senior unsecured notes due 2017 by Hynix Semiconductor Inc. |
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