SK Hynix's corporate credit rating has improved as the company maintains a stable financial structure despite the global economic downturn.

International credit rating agency Moody's announced on the 19th that it maintained SK Hynix's corporate credit rating at 'Baa2' and upgraded the outlook from 'negative' to 'stable'.

Moody's raised its outlook for SK Hynix, noting the company's market value as a global leader in competitiveness despite the worsening outlook for the semiconductor market due to the economic downturn, and based on the prospect that the company can maintain stable earnings and financial soundness.

In particular, it highly evaluated the fact that SK Hynix maintained a stable financial structure, such as keeping borrowings at 1x EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) even while going through a severe recession in 2019.

Meanwhile, although the semiconductor industry tends to periodically repeat boom and bust cycles amidst the major trends of the global economy, as these cycles have recently shortened, Moody's forecasted that current market conditions will recover rapidly and normalize by 2024.