Korea Corporate Evaluation lowered the rating outlook of SK Securities to 'negative' ... "Continuous sluggish profitability"

Reporter Paul Lee / approved : 2023-04-06 23:06:30
  • -
  • +
  • 인쇄
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
(사진=SK이노베이션 제공)

 

[Alpha Biz=(Chicago) Reporter Paul Lee] The Korea Corporate Evaluation lowered its rating outlook to "negative" on the 6th, saying that SK Securities' profitability slump continues and the burden of managing financial soundness related to project financing exposure remains.

Kipyeong Han changed the rating outlook of SK Securities' corporate credit rating (A), derivatives bonds (A), and subordinated bonds (A-) from 'stable' to 'negative'. The "negative" rating outlook does not immediately downgrade the credit rating, but means that it will review the downward revision by observing its financial status for one to two years.

SK Securities saw its average sales and operating profit ratio and total asset return (ROA) fall to 91.0% and 0.3%, respectively, over the past three years from 2020 to last year. It was also evaluated to be sluggish compared to the average of the same industry (Peer).

Due to the balance structure based on consignment sales, the proportion of fixed costs is high, and the burden of non-current costs such as accumulation of litigation reserves and loss of evaluation of financial products.

In fact, SK Securities' net profit fell KRW 23.1 billion on-year to KRW 4.4 billion last year due to one-off expenses such as consignment sales, falling commodity management balance, increased loan-loss reserves and valuation loss of carbon credits.

It was also assessed that its overall market position has declined due to the expansion of its share of large securities firms in the consignment trading sector, and its capital adequacy has been reduced due to equity investment and increased contingent debt.

 

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)

주요기사

[Exclusive] Samsung Electronics Passes NVIDIA’s HBM3E 12-High Qualification Test, Secures Supply Deal2025.09.19
Civic Groups File Complaint Against Baemin and Coupang Eats Over Alleged Misleading “One-Person Free Delivery” Promotions2025.09.19
KT Confirms Additional Victims in Unauthorized Micro-Payment Case, Faces Criticism Over Initial Response2025.09.19
KFTC Grants Conditional Approval for Joint Venture Between Shinsegae Group and Alibaba Group2025.09.19
Supreme Court Rules in Favor of NTS on U.S. Unregistered Patent Royalties2025.09.19
뉴스댓글 >

건강이 보이는 대표 K Medical 뉴스

HEADLINE

PHOTO

많이 본 기사