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[Alpha Biz=(Chicago) Reporter Kim Jisun] Global credit rating agencies have raised SK Innovation's credit rating outlook one after another.
Global credit rating agency Standard & Poor's (S&P) recently announced SK Innovation's credit rating and outlook as "BBB- Negative" from the existing BBB- Credit Watch Negative.
"Credit Watch" means that S&P will reassess its credit rating within 90 days instead of predicting the future, and SK Innovation maintains it in June after receiving a credit watch for the first time in March I recovered my previous rating with negative results this time.
S&P said SK Innovation's KRW 1.14 trillion paid-in capital increase helped improve its financial structure. In addition, SK On, a battery business subsidiary of SK Innovation, predicted that profitability will further improve thanks to the Advanced Manufacturing Production Tax Credit (AMPC) of the US Inflation Reduction Act (IRA).
Earlier last month, global credit rating agency Moody's reaffirmed SK Innovation's corporate credit rating as "Baa3" and raised its rating outlook from "negative" to "stable."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
