'1jo Club' SK Magic, Hanshin Rating Credit Grade Raised One Step to A+

Rental Business Growth and Stability Recognized... Positive Impact on Enhancing Corporate Value

SK Magic announced on the 23rd that Korea Ratings has upgraded its unsecured bond credit rating from A0 (positive) to A+ (stable). Photo by SK Magic

[Asia Economy Reporter Kim Heeyoon] SK Magic announced on the 23rd that Korea Ratings upgraded its unsecured bond credit rating from A0 (positive) to A+ (stable) by one notch.

Korea Ratings positively evaluated the recent rating outlook change due to ▲strengthening business stability through the expansion of the rental account base ▲continued profitability improvement through increased rental ratio ▲and the expectation of maintaining excellent financial indicators based on cash generation capacity.

They further stated that the overall business profile improved due to steady improvement in profitability and coverage indicators, growth potential of the rental market, excellent growth of the company’s scale and rental accounts, and the establishment of a stable second-place market position within the market, which were reasons for the credit rating adjustment.

An SK Magic official said, "The recent credit rating upgrade is an external recognition of the growth and stability of our core rental business despite the difficult times of increasing uncertainty in the management environment, and we expect it to have a positive impact on continuously enhancing corporate value."

Meanwhile, SK Magic plans to issue corporate bonds worth 150 billion KRW on the 8th of next month. The raised funds will be used for refinancing maturing bonds and operating expenses.

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