[Alpha Biz= Reporter Kim Jisun] CJ Foodville announced on the 19th that it has been awarded an 'A-' credit rating by Korea Ratings (Korea Credit Ratings).
This marks a significant improvement for CJ Foodville, as it upgrades from a 'BBB-' rating in 2021, continuing its positive credit rating trajectory over the past three years.
Korea Ratings cited several key factors in its assessment of CJ Foodville's credit rating, including:
The restructuring of its restaurant division and the realization of solid results from its overseas business, leading to growth and improved profitability.
Strengthened capital and reduced borrowings, resulting in an improved financial structure.
The strong market position of its core brands.
According to the report, CJ Foodville achieved a solid operating performance last year, with consolidated revenue of 844.7 billion KRW and operating profit of 45.3 billion KRW.
The company has shown continued improvement in its ability to generate profits this year, compared to the same period last year.
Additionally, CJ Foodville secured financial stability by successfully raising 70 billion KRW in investment from Arges PE last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
