(The following statement was released by the rating agency)
Dec 07 - Standard & Poor’s Ratings Services today assigned its ‘A-’ long-term issue rating and ‘cnAA’ long-term Greater China regional scale rating to the proposed five-year US$650 million medium-term notes issued by Competition Team Technologies Ltd. (not rated), a fully owned subsidiary of Hon Hai Precision Industry Co. Ltd. (A-/Stable/--; cnAA/--). The notes are part of a US$2 billion medium-term notes program that Hon Hai unconditionally and irrevocably guarantees.
-- 2008 Corporate Criteria: Analytical Methodology, April 15, 2008
-- 2008 Corporate Criteria: Ratios and Adjustments, April 15, 2008
-- 2008 Corporate Criteria: Rating Each Issue, April 15, 2008