EETimes.com, 25 Feb 2009, Bolaji Ojo
Chartered Semiconductor Manufacturing Ltd.'s ability to survive the ongoing economic recession and sliding demand for its services will depend largely on the willingness of parent Temasek Holding Pte Ltd. to provide financial support for the wafer foundry, according to Standard & Poor's.
The corporate credit ratings agency on Wednesday (Feb. 25), lowered its ratings on Chartered deeper into junk zone on concerns the company is facing tightening "demand and rising costs," both of which would likely put a squeeze on its financials in 2009 and perhaps well into 2010 if the market does not recover quickly enough.
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