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Photo = LG CNS |
[Alpha Biz= Reporter Kim Sangjin] Following Korea Ratings' decision to improve LG CNS's credit outlook, Korea Credit Rating Agency (Korea Ratings) has also raised its credit rating outlook for LG CNS, the IT subsidiary of LG Group. The company has shown strong recent performance, and the ratings agency anticipates that LG CNS will maintain excellent financial stability in the future.
On the 10th, Korea Ratings announced in its report that it had upgraded the credit outlook for LG CNS from "AA- (Stable)" to "AA- (Positive)." A "Positive" outlook indicates a high likelihood that the credit rating could be upgraded in the future.
Korea Ratings highlighted that LG CNS's improved operating cash flow will help the company maintain strong financial stability moving forward. LG CNS has achieved strong results this year, driven by the group’s digital transformation and successful cloud adoption initiatives.
As of the third quarter of this year, LG CNS’s consolidated revenue and operating profit had increased by 7.0% and 17.5%, respectively, compared to the previous year. The company's financial metrics are also strong, with a debt ratio below 100% and a low reliance on borrowed funds, standing at just 17.4% as of the end of September.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
