S&P: ASM outlook stable

Standard & Poor's said it revised its outlook on ASM International NV to stable from negative following steady improvements in the company's 100%-owned front-end operations and the strengthening of the company's financial profile.

At the same time, S&P affirmed its ratings on the company, including its B+ long-term corporate credit ratings and all related debt ratings.

"ASM's first-half 2004 results and outlook for the rest of the year indicate that the company's front-end equipment operations will report positive EBITDA for 2004 after three years of weak profitability," said S&P credit analyst Olli Rouhiainen. "The company's 54%-owned Hong Kong-based subsidiary ASM Pacific Technology Ltd. (ASMPT) also performed strongly, helping ASM to improve its financial profile and liquidity position."

The company had sales of €719 million and EBITDA of €73 million in the 12 months to June 30, 2004. At June 30, ASM had total debt of €210 million and net debt of €38 million.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.