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STATS ChipPAC debt rating downgraded by Moody's

Drop to Ba2 from Ba1 is due to pressure on profitability but outlook deemed stable

Singapore MOODY'S Investors Service yesterday downgraded STATS ChipPAC Ltd's corporate family rating and senior unsecured debt rating to Ba2 from Ba1. The credit-rating agency said that the outlook is stable, but added that the chipmaker's final rating of Ba2 benefits from a one-notch uplift due