Moody's upgrades SK hynix to A3 from Baa1 on AI-driven memory demand

Moody's raised SK hynix's issuer and senior unsecured ratings to A3 from Baa1, with a stable outlook, in an action dated August 3, 2026. Moody's pointed to favorable memory market conditions driven by AI infrastructure spending and expects strong profitability and cash flow. It also cited the cyclical and capital-intensive nature of the memory industry as limits on the rating.

• Rating: A3 (from Baa1), outlook stable
• Applies to the issuer rating and senior unsecured debt
• Moody's view: strong profitability and cash flow ahead
• S&P and Fitch remain at BBB+