S&P assigns Everlight BB

Standard & Poor's said it assigned its BB long-term corporate credit rating to Everlight Electronics Co. Ltd.

The outlook is stable.

The rating is constrained by Everlight's limited, albeit improving, operating-scale, limited internal technology resources and high industry risks associated with the global LED industry, including volatile product pricing, rapidly evolving technology and low entry barriers in terms of manufacturing technology and capital, the agency said.

S&P noted that the rating is supported by Everlight's modest financial risk profile, low cost structure, improving product mix and strong growth prospects in the LED market.

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