Credit assessment
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Credit assessment
Date evaluated | Securities subject to evaluation | Credit rating | Credit rating company | Evaluation outcome |
---|---|---|---|---|
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 | |
2019 | 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 | |
2018 | 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 AA to 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) For grades A2, A3, and B, + or - signs are added to indicate superiority and inferiority within a grade.
[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- |