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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Rotem's credit rating, which is set to forecast demand for corporate bonds at the end of this month, has taken a step up from the previous A- to A thanks to its performance in winning Polish orders.
NICE Credit Rating (NICE Rating) announced on the 22nd that Hyundai Rotem's credit rating has been raised from 'A- (positive)' to 'A' (stable). It has been about a year since it rose from 'BBB+' to 'A-' in May last year.
NICE Investors Service diagnosed that Hyundai Rotem has strengthened its business stability by expanding orders significantly. The company expanded its order balance in the railway sector to 10 trillion won at the end of June this year from 7.5 trillion won at the end of last year due to new orders for large-scale projects such as Australia and KORAIL this year.
The backlog of orders in the defense sector also expanded from 1.7 trillion won at the end of 2021 to 6 trillion won at the end of June this year thanks to a contract with the Polish military authorities. It is predicted that excellent operating profitability of around 5% will be maintained as the portion of performance in the defense sector, which has good profitability, expands.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
