Credit assessment
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Credit assessment
| Date evaluated | Securities subject to evaluation | Credit rating | Credit rating company | Evaluation outcome |
|---|---|---|---|---|
| 2022 | International credit rating | Aa3 | Moody’s | Annual evaluation |
| A+ | Fitch | Annual evaluation | ||
| Corporate bonds | AAA | Korea Ratings Corporation Korea Investors Service |
Main evaluation, Periodic evaluation | |
| Commercial paper | A1 | Korea Ratings Corporation Korea Investors Service |
Main evaluation, Periodic evaluation | |
| 2021 | International credit rating | A1 | Moody’s | Annual evaluation |
| A+ | Fitch | Annual evaluation | ||
| Corporate bonds | AAA | Korea Ratings Corporation NICE Investors Service |
Main evaluation, Periodic evaluation | |
| Commercial paper | A1 | Korea Ratings Corporation NICE Investors Service |
Main evaluation, Periodic evaluation | |
| 2020 | International credit rating | A1 | Moody’s | Annual evaluation |
| A+ | Fitch | Annual evaluation | ||
| Corporate bonds | AAA | Korea Ratings Corporation NICE Investors Service |
Main evaluation, Periodic evaluation | |
| Commercial paper | A1 | Korea Ratings Corporation NICE Investors Service |
Main evaluation, Periodic evaluation |
[Note 1] Issuer credit rating and bond credit rating
| Category | Description | |
|---|---|---|
| Investment grade | AAA | Best certainty of payment of principal and interest |
| AA | Although the certainty of payment of principal and interest is very high, it is slightly lower than AAA grade. | |
| A | Although the certainty of payment of principal and interest is high, it may be affected slightly by changes in the environment. | |
| BBB | Although the certainty of payment of principal and interest is high, it may be affected by changes in the environment. | |
| Speculation grade | BB | Although the company has no problems with the payment of principal and interest, its future stability includes speculative factors. |
| B | It is speculative as the company has insufficient ability to repay the principal and interest. | |
| CCC | The company carries risk of debt default. | |
| CC | The company is highly likely to default on its debt. | |
| C | The company is extremely likely to default on its debt. | |
| D | The company is in default status. | |
Note) For grades A2, A3, and B, + or - signs are added to indicate superiority and inferiority within a grade.
[Note 2] Credit grade of commercial paper
| Category | Description | |
|---|---|---|
| Investment grade | A1 | Best ability to repay in a timely manner |
| A2 | Timely repayment ability is excellent but inferior to A1 | |
| A3 | Although timely repayment ability is solid, it may be affected slightly by changes in the environment. | |
| Speculation grade | B | Although timely repayment ability is recognized, it implies speculative factors. |
| C | Timely repayment ability is questionable. | |
| D | The company is insolvent. | |
[Note 3] Global credit rating system
| Category | Description | |
|---|---|---|
| Moody’s | S&P/Fitch | |
| Aaa | AAA | Credit rating is very high |
| Aa1 | AA+ | Credit rating is high |
| Aa2 | AA | |
| Aa3 | AA- | |
| A1 | A+ | Although the credit rating is high, the ability to fulfill financial obligations may deteriorate in exceptional cases. |
| A2 | A | |
| A3 | A- | |
| Baa1 | BBB+ | Although the credit rating is good, the ability to fulfill financial obligations may deteriorate in future adverse economic conditions. |
| Baa2 | BBB | |
| Baa3 | BBB- | |
| Ba1 | BB+ | Although the company is able to fulfill financial obligations in the near future, such ability to fulfill financial obligations may deteriorate in adverse conditions. |
| Ba2 | BB | |
| Ba3 | BB- | |