Lates News

Moody's, the international credit rating agency, has upgraded SK Hynix's credit rating to the A-level for the first time, reflecting the company's enhanced competitiveness in the artificial intelligence storage market as well as improvements in profitability and cash generation capabilities. The day before, Moody's raised SK Hynix's long-term issuer rating and senior unsecured bonds rating by one notch from "Baa1" to "A3," with a stable outlook. This marks the first time since SK Hynix's merger with SK Group in 2012 that the company has received an A rating from Moody's, making it the first among the three major international credit rating agencies to award SK Hynix with an A rating. Currently, both S&P and Fitch rate SK Hynix as "BBB+," with S&P having a "positive" outlook and Fitch maintaining a "stable" outlook. Moody's expects SK Hynix to maintain high profitability and cash generation capabilities over the next 12 to 18 months, with financial conditions further improving. Moody's believes the company has accumulated sufficient cash reserves, thereby enhancing its ability to withstand the risks associated with semiconductor cyclical downturns.