Military Mutual Aid Association Achieves Best Corporate Credit Rating for 14 Consecutive Years

[Asia Economy Reporter Minji Lee] The Military Mutual Aid Association announced on the 27th that it received the ‘Corporate Credit Rating e-1(AAA)’ in the 2020 corporate credit evaluation for submission to the Public Procurement Service and public institutions from the credit rating agency NICE D&B. This marks the 14th consecutive year since 2007 that it has achieved the ‘highest credit rating.’

The corporate credit rating for public institution bidding is classified into 10 grades, ranging from ‘e-1(AAA)’ to ‘e-10(D).’ The Military Mutual Aid Association’s credit rating of ‘e-1(AAA)’ is the highest grade, indicating the top level of commercial trustworthiness.

The Military Mutual Aid Association’s total assets amounted to 11.5779 trillion KRW (as of the end of December 2019), an increase of 792.3 billion KRW compared to the previous year. Despite a challenging business environment last year due to the US-China trade dispute and interest rate cuts, it has maintained a sound financial structure with growth, profitability, and stability by achieving four consecutive years of surplus.

Since 2005, government agencies such as the Public Procurement Service, Small and Medium Business Administration, Ministry of the Interior and Safety, as well as local governments and public corporations, have required the mandatory submission of credit rating certificates issued by external credit investigation agencies for bid qualification screening during bidding.

This content was produced with the assistance of AI translation services.