South Korea's POSCO International Corp. said on Thursday that it received its first-ever credit ratings from Standard & Poor's (S&P) and Moody's.
The company was assigned a BBB+ rating by S&P and a Baa2 rating by Moody's, both with a stable outlook, signifying a strong investment grade standing.
POSCO International highlighted that its BBB+ rating aligns with major domestic firms such as LG Energy Solution Ltd., LG Chem Ltd., and Hyundai Glovis Co., underlining its competitive position in the market.
The favorable credit ratings were attributed to POSCO International's solid performance in steel trading and power generation, alongside its diversified portfolio across sectors including steel, energy, food, biomaterials, and drive motor cores.
The company also emphasized the consistent growth of its earnings before interest, taxes, depreciation, and amortization (EBITDA) as a key factor in the positive assessment.
This milestone marks POSCO International as the third entity within the POSCO Group, following POSCO Holdings Inc. and POSCO, to secure a global credit rating.
POSCO International plans to enhance its global market credibility, explore diverse financing options—including potential overseas bond issuance—and strengthen its financial stability and market competitiveness through increased collaboration with global partners.
Write to Hyun-woo Oh at
ohw@hankyung.com
