Taiwan's Unimicron is being investigated by prosecutors, but its credit rating and near-term business look safe for now.

• The case centers on whether Unimicron's circuit boards broke rules on labeling where products were made.
• Taiwan Ratings says the probe will not hurt earnings or finances in the short term, and the company holds plenty of spare cash.
• Its main business making chip substrates is still booming, with strong shipments of high-end boards driven by AI demand.
• The real risk is reputational — a conviction could make customers question how well the company polices its supply chain.
• With US-China tech tensions rising, there is a small chance the case strains ties with major American customers.

Outlook: Unimicron should keep growing on AI demand, but the investigation's outcome will decide whether customer relationships take a hit.