[ET Net News Agency, 7 January 2021] S&P Global Ratings expects Semiconductor
Manufacturing International Corp. (SMIC) (00981) to sustain its operations for at least
six months as it awaits possible export licenses for key equipment and components.
The China-based company is facing greater restrictions due to its recent placement on
the U.S. entity list. Such new restrictions will most likely impede SMIC's ability to
develop process nodes that are 10 nanometer (nm) and below. They also create uncertainties
around the company's ability to expand and operate mature process nodes (28nm or above).
S&P affirmed its 'BBB-' long-term issuer credit rating on SMIC. It removed the rating
from CreditWatch, where it was placed with negative implications on 7 October 2020.
The negative outlook on SMIC reflects mainly potential operational and supply chain
risks arising from the company's placement on the U.S. entity list and the associated
export restrictions. (KL)
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00981 SMIC
Nominal 
15.540 +0.440 (+2.914%) Research Report
07/01/2021 10:09
SMIC's (00981) "BBB-" rating affirmed; outlook negative
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