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Photo = SK Specialty. |
[Alpha Biz= Kim Jisun] Korea Ratings has downgraded the credit rating of SK Specialty, a global leader in the specialty gas sector, from ‘A+ (Under Review for Downgrade)’ to ‘A (Stable).’
The downgrade follows the change in SK Specialty’s largest shareholder from SK Group to Hahn & Company on February 31. As a result, Korea Ratings excluded the possibility of affiliate support in times of need from its rating assessment.
In a report released on March 2, Senior Analyst Park So-young explained, “Given that private equity funds (PEFs) make economic and strategic decisions regarding support for their acquired companies, the previous one-notch uplift in the company's credit rating due to potential affiliate support has been removed.”
Despite the change in majority ownership, Park noted that SK Specialty's strong business fundamentals remain intact. The company specializes in producing specialty gases such as nitrogen trifluoride (NF3), which is essential in semiconductor and display panel manufacturing. With a global market share of approximately 40%, SK Specialty is widely recognized as the industry leader.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
