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S&P upgrades MagnaChip Semiconductor (MX) to BB- from B+: "The upgrade reflects our...

S&P upgrades MagnaChip Semiconductor (MX) to BB- from B+: "The upgrade reflects our expectation that MagnaChip will improve its operating performance over the next 12 months, mainly due to steady growth in demand for smartphones and tablet PCs and good relationships with key customers. We also expect the company to sustain prudent financial policies over the next one to two years, resulting in stable financial metrics and steady free operating cash flow."
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