Ecopro and Ecopro BM Credit Ratings Upgraded on Strong Performance

EcoPro and EcoPro BM have had their credit ratings upgraded thanks to strong performance growth.

On the 14th, NICE Credit Rating upgraded EcoPro's long-term credit rating from A- (positive) to A (stable). The short-term credit rating was also raised from A2- to A2.

NICE Credit Rating also upgraded EcoPro BM's long-term credit rating from A- (positive) to A (stable), and its short-term credit rating from A2- to A2. EcoPro BM has now secured an A (stable) rating from two of the three major domestic credit rating agencies. Korea Ratings had assigned EcoPro BM a long-term credit rating of A (stable) in August last year.

NICE Credit Rating cited strong performance growth as the basis for the upgrade. They stated, "Although there may be temporary declines in sales scale and non-operating losses due to a slowdown in electric vehicle sales growth, considering the rapidly expanding market demand, the likelihood of prolonged performance downturn is low."

EcoPro recorded consolidated sales of KRW 7.259 trillion last year. This represents a 29% increase compared to the previous year, marking an all-time high.

With this credit rating upgrade, both companies are expected to reduce interest expenses in future financing processes. An EcoPro official said, "We received positive external evaluations regarding the company's growth potential and financial soundness," adding, "We expect to reduce interest costs during financing processes such as corporate bond issuance."

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