S&P affirms ASM Pacific Technology

S&P said it affirmed its BB+ long-term corporate credit rating on ASM Pacific Technology Ltd.

The outlook remains stable.

The agency said it affirmed the ratings because it expects the company will continue to maintain its good competitive position in the volatile semiconductor industry and sustain its profitability and low leverage, given still favorable semiconductor market conditions.

“Additionally, we expect the company to continue to benefit from growing demand for dual cameras in smartphones, as well as semiconductors for auto and industrial applications,” S&P said in a news release.

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