According to N.News on January 8th, Korean tobacco company KT&G recently received international credit ratings from the three major global credit rating agencies S&P Global and Moody's, which are rated as "A- (Stable)" and "A3 (Stable)" respectively.
The "A-" rating assigned by S&P is a sign of high creditworthiness, indicating very low credit risk. This rating is the highest level among non-public corporations and large financial institutions in South Korea, and is equivalent to the rating of top global tobacco companies. Moody's "A3" rating also represents the highest level for large corporations in South Korea.
Global rating agencies have recognized KT&G for maintaining a strong market leadership position in its tobacco business, demonstrating excellent business stability. In addition, its stable profit generation capability and low financial leverage have also received positive evaluations. Furthermore, KT&G has shown outstanding performance in its HNB business.
A representative from KT&G stated that despite uncertainties both domestically and internationally, the company has been recognized by global credit rating agencies for its solid implementation of its mid to long-term vision and strong financial health. In the future, the company will continue to build a stable financial structure on the foundation of its excellent credit rating, and focus on core business investments aligned with its vision of "leapfrogging into a global top-tier industry.
It is worth mentioning that as early as June 2023, KT&G had already received the highest credit rating "AAA (Stable)" from the three major South Korean credit rating agencies, including the Korean Enterprise Evaluation, Korean Credit Rating, and NICE Credit Rating.
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