Credit Ratings

Credit Ratings
Category Rating Agency Current Rating Last Evaluation Date
Bond NICE AA- 15 July, 2019
KR AA- 15 July, 2019
KIS AA- 30 May, 2019

※ KIS : Korea Investors Service Inc.

※ NICE : National Information & Credit Evaluation Inc.

※ KR : Korea Ratings Corporation

Bond Rating Definitions

Bond rating refers to the evaluation of timely debt service capability of the bonds, which are issued to meet the mid- to long-term funding needs including facility funds (such as unsecured bonds, financial debentures, secured bonds, and other special bonds). The rating focuses on the examination of the mid-to-long-term outlook of issuer and various factors to influence the outlook.

Bond Rating Definitions
Rating Rating Definition
AAA Capacity to pay and repay principal is extremely strong.
AA Capacity to pay and repay principal is very strong, but somewhat less than 'AAA'.
A Capacity to pay and repay principal is strong, but it is somewhat susceptible to external changes in the future.
BBB Capacity to pay and repay principal is adequate, but more likely to be weakened by future market changes.
BB Capacity to pay and repay principal faces no immediate problems, but its future stability is speculative.
B Capacity to pay and repay principal is poor. It is speculative.
CCC It may contain the possibility of default.
CC It may contain more possibility of default.
C Default is highly likely.
D In Default as of present time.

※ The ratings from 'AA' to 'BB' may be modified by the addition of a plus(+) or minus (-) sign to show relative standing within the major rating categories.

※ The ratings from 'AAA' to 'BBB are considered investment-graded having more than adequate timely debt service capability, while the ratings below 'BB' are considered to contain speculative characteristics whose timely debt service capability is very susceptible to market changes.