Daeshin F&I Upgraded to 'A+' Credit Rating... Achieves Success in Business Restructuring

DaeShin F&I announced on April 2 that its long-term credit rating from NICE Investors Service has been upgraded from 'A Positive' to 'A+ Stable', and its short-term credit rating has also been raised from 'A2' to 'A2+'.

This credit rating upgrade is particularly significant because it was achieved based solely on the company's own competitiveness, without reflecting the effects of group support. The company is assessed to have improved its creditworthiness by restructuring its portfolio to focus on non-performing loans (NPLs) and stabilizing its profit base in response to changes in the market environment.

Since the second half of 2023, amid an economic slowdown that increased the number of marginal borrowers and led to a greater volume of non-performing loans being sold by banks, DaeShin F&I proactively expanded its NPL investment to adapt to these market changes. As a result, in both 2024 and 2025, it secured the industry's second-largest market position in bank NPL auctions. Furthermore, its market share in the NPL sector (based on OPB) expanded from the low 10% range in the past to approximately 20% by 2025, significantly increasing its influence in the market.

The business portfolio has also become more stable. DaeShin F&I has continuously recovered non-core real estate assets and reallocated them to NPL investments, restructuring its business model to focus on NPLs. The proportion of NPL assets increased from 18.0% at the end of 2022 to 56.4% at the end of 2025, while the proportion of real estate investment assets shrank significantly from 53.9% to 24.4% over the same period.

The financial structure has likewise become much stronger. After completing the conversion of sales for Nine One Hannam, the company's capital adequacy improved, and as of the end of 2025, it recorded equity capital of 1.0734 trillion won, a capital adequacy ratio of 23.8%, and a leverage ratio of 4.2 times. These figures represent a significant improvement compared to the end of 2020, when they stood at 432.8 billion won, 12.4%, and 8.0 times, respectively.

Capital expansion through a paid-in capital increase by Daishin Securities has also contributed to enhancing financial stability. Even after excluding the portion used for dividend payments from the 250 billion won paid-in capital increase in 2025, approximately 50 billion won in net funds flowed in, further strengthening the company's capital buffer.

Cho Sangkyu, Head of Management Planning at DaeShin F&I, stated, "We have established a business foundation that can flexibly respond to changes in the market environment," adding, "We will continue to strengthen our risk management capabilities and further advance our structure for stable profit generation."

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