Moody's Downgrades Hyundai Steel Credit Rating to 'Baa3'
[Asia Economy Reporter Kim Hyemin] International credit rating agency Moody's announced on the 31st that it has downgraded Hyundai Steel's corporate credit rating from 'Baa2' to 'Baa3'.
The credit rating outlook remains 'negative' as before.
Sean Hwang, a Moody's analyst, explained, "This reflects the expectation that Hyundai Steel's profits and financial leverage, which already weakened significantly last year, will deteriorate further over the next 1 to 2 years."
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051914165468840_1779167814.png)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "I'll Stop by Starbucks Tomorrow": People Power Chungbuk Committee and Geoje Mayoral Candidate Face Criticism for Alleged 5·18 Demeaning Remarks
- [New York Stock Exchange] All Major Indices Close Lower as U.S. Treasury Yields Surge
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
He added, "The spread of the novel coronavirus (COVID-19) is expected to have a negative impact on global steel demand, which will reduce Hyundai Steel's profitability and hinder its ability to reduce borrowings."
This content was produced with the assistance of AI translation services.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
