S&P: ASM view to positive

Standard & Poor's said it revised the outlook on ASM International NV to positive from negative, and affirmed its B+ long-term corporate credit rating.

The outlook revision reflects an expectation that the profitability and cash flow generation at the company's front-end operations are likely to improve significantly in the next few quarters thanks to an ongoing restructuring program and improving demand prospects within the industry, S&P said.

The positive outlook also reflects the group's solid capitalization and the strong operating performance, the agency said, and demand prospects of its 53%-owned Hong Kong subsidiary, ASM Pacific Technology Ltd.

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