Bangkok--10 Mar--Fitch Ratings
Fitch has taken a number of rating actions on the issuers listed below following a sector-wide review of its Asia-Pacific corporate technology ratings. The list below details the rating actions taken on the Long-term foreign currency Issuer Default Ratings. Full details for each issuer and the ratings rationale will be provided shortly by separate press releases.
China:
ZTE Corporation: Affirmed at 'BB+' with Stable Outlook.
Japan:
- Panasonic Corporation: Downgraded to 'A+' from 'AA-' (AA minus); Rating Watch Negative (RWN) maintained;
- Sharp Corporation: Downgraded to 'A' from 'A+'; Placed on RWN;
- Hitachi, Ltd: Downgraded to 'BBB+' from 'A-' (A minus); Placed on RWN;
- Sony Corporation: Downgraded to 'BBB+' from 'A-' (A minus); RWN maintained;
- NEC Corporation: Downgraded to 'BBB-' (BBB minus) from 'BBB'; Outlook revised to Negative from Stable;
- Toshiba Corporation: Downgraded to 'BB' from 'BBB'; Placed on RWN.
Korea:
- Samsung Electronics Co., Ltd.: Affirmed at 'A+'; Outlook revised to Negative from Stable;
- LG Electronics Co., Ltd.: Affirmed at 'BBB'; Outlook revised to Negative from Stable;
- Hynix Semiconductor Inc.: 'B+'; RWN maintained.
Taiwan:
- Taiwan Semiconductor Manufacturing Company Limited: Affirmed at 'A'; Stable Outlook;
- United Microelectronics Corporation: Affirmed at 'BBB'; Stable Outlook;
- Acer Inc.: Affirmed at 'BBB-' (BBB minus); Outlook revised to Negative from Stable;
- ASUSTeK Computer Inc.: Downgraded to 'BB+' from 'BBB-' (BBB minus); Placed on RWN;
- Quanta Computer Inc.: Affirmed at 'BB'; Outlook revised to Negative from Positive;
- AU Optronics Corporation: Downgraded to 'BB-' (BB minus) from 'BB+'; Outlook revised to Negative from Positive.
Contacts: Matt Jamieson, Seoul, + 82 2 3278 8355/ [email protected]; Kevin Chang, Taipei, +886 2 8175 7609/ [email protected]; Jongwan Kim, Seoul, + 82 2 3278 8371/ [email protected]; Jinqing Li, Beijing, +8610 8567 9898 ext. 108/ [email protected].
Media Relations: Nicole Batchelor, Singapore, Tel: +65 6796 7214, Email: [email protected].