S&P: ASM outlook positive

Standard & Poor's said it revised its outlook on ASM International NV to positive from stable.

At the same time, the agency said it affirmed the long-term corporate credit rating at BB-.

In addition, the agency said it affirmed its BB- issue rating on the group's outstanding €150 million convertible bond due 2014. The recovery rating remains unchanged at 3.

S&P said the outlook revision reflects its view that ASM's financial risk profile has strengthened in 2011 and will likely improve further over the next 12 to 18 months, primarily thanks to improving industry demand for semiconductor equipment.

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