(The following statement was released by the rating agency)
SINGAPORE/SYDNEY, November 21 (Fitch) Fitch Ratings has
downgraded
Singapore-based semiconductor assembly and test company STATS
ChipPAC Ltd's
(STATS) Long-Term Foreign-Currency and Local-Currency Issuer
Default Ratings
(IDR) to 'B+' from 'BB-' and placed the IDRs on Rating Watch
Negative.
In addition, the agency has placed the 'BB' rating on STATS's
8.5% USD425m
senior secured notes due 2020 on Rating Watch Negative and
assigned t
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