S&P: ASM unchanged

Standard & Poor's said its ratings and outlook on ASM International NV (B+/stable) are unaffected by today's announcement that there will be a legally nonbinding vote at the November extraordinary general meeting regarding splitting the company's back-end operations from the group.

At the current time, S&P said it believes that it is unlikely that the meeting will lead to the actual splitting of the group, as the largest shareholder opposes a split.

The ratings would, however, be placed on CreditWatch with negative implications if such a move becomes likely, leading to the ratings being lowered if the group is split, the agency noted.

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