Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
POSCO International receives first ratings from S&P, Moody's
POSCO International headquarters in Incheon / Courtesy of POSCO International
By Lee Min-hyung
POSCO International has received its first global credit ratings from S&P and Moody’s, the trading firm said Thursday, adding that this will pave the way for its aggressive expansion into overseas markets.
S&P Global Ratings recently assigned a BBB+ long-term issuer credit rating to the POSCO affiliate, while Moody’s granted a Baa2 rating to the company. Both ratings agencies also said the outlook for POSCO International remains stable.
They gave high marks to the firm for its solid market position and diverse business portfolio. The firm’s financial soundness was also another key factor in winning the ratings. POSCO International is particularly strong in steel trading and development. The company is also on the path to achieving robust growth in its diversified business portfolios, which encompass not only steel but also energy, food and biomaterials.
POSCO International became the third POSCO affiliate to receive global ratings, following POSCO Holdings and POSCO. The company said the latest outcome will help enhance its brand image and raise its global profile.
It said that the decent ratings will also enable the company to expand its partnerships with other global partners, thereby solidifying its global competitiveness.
“Our business capability has been recognized on the global stage after winning the ratings,” an official from the company said.
“We will keep garnering efforts to improve our corporate value by maintaining our financial stability and building more solid revenue structures.”
POSCO International’s BBB+ rating places it on par with other globally renowned Korean firms, such as LG Energy Solution and Hyundai Glovis.