Korea Ratings Downgrades Eco Capital's Short-Term Bond Credit Rating
Korea Ratings announced on July 1 that it has downgraded the short-term bond credit rating of Eco Capital Co., Ltd. from 'A3' to 'A3-'.
The agency cited several reasons for the downgrade. First, it pointed out that the company has a weak market position within its sector and its business stability has declined as the proportion of risk assets has increased. In addition, Korea Ratings noted that the performance volatility of investment financial assets has grown, and the stability of the company's funding structure is inferior.
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Korea Ratings added that it will monitor whether the company's linkage with the group weakens due to future changes in governance structure, whether profitability deteriorates significantly due to losses from large investment assets, and whether there is any improvement in the stability of the business portfolio.
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