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Press Release
SK Telecom Awarded the Best Credit Rating in the Private Business Enterprise Section.
2002.09.27 PrintMoody?s, the world’s best and most reliable credit rating organization, upgrades SK Telecom?s Credit Rating from Baa2 to Baa1.
Evaluated the company as being in a superior position in the wireless communication field, with an excellent balance between growth and stability
On the 25th of this month, Moody’s announced an upgrading of SK Telecom’s (www.sktelecom.com) rating from the current Baa2 to Baa1.
Although the Baa1 rating is one step lower than a national credit rating of A3, it is the highest rate given to a Korean private enterprise business. Korea Tobacco and Ginseng Corporation which received a Baa1 rating in the government enterprise section was the only other Korean company that received this high rating. In the future outlook category, which indicates future potential strength, the company scored a significant triumph by winning a ?Positive? rating which is a higher rating than the ?Stable? received by Samsung Electronics and KT.
Moody?s gave the higher rating based on our remarkable achievement of maintaining the leading position in the Korean mobile communication market, and decreasing management and financial operation risks. Moody?s also explained that awarding a ?Positive? on future outlook was due to the fact that SK Telecom possessed excellent financial flexibility that could cope with severe outside hardships (general economic downturn, etc.).
This elevated credit rating gives the company financial advantages when it seeks to acquire capital. Financing is accomplished easier and at lower expense. It has also contributed to a great improvement in the company’s image as a reliable and trustworthy company, by the national and international communities.
SK Telecom also received an A- Credit Rating from S&P, which is the other major credit rating organization.
Although the Baa1 rating is one step lower than a national credit rating of A3, it is the highest rate given to a Korean private enterprise business. Korea Tobacco and Ginseng Corporation which received a Baa1 rating in the government enterprise section was the only other Korean company that received this high rating. In the future outlook category, which indicates future potential strength, the company scored a significant triumph by winning a ?Positive? rating which is a higher rating than the ?Stable? received by Samsung Electronics and KT.
Moody?s gave the higher rating based on our remarkable achievement of maintaining the leading position in the Korean mobile communication market, and decreasing management and financial operation risks. Moody?s also explained that awarding a ?Positive? on future outlook was due to the fact that SK Telecom possessed excellent financial flexibility that could cope with severe outside hardships (general economic downturn, etc.).
This elevated credit rating gives the company financial advantages when it seeks to acquire capital. Financing is accomplished easier and at lower expense. It has also contributed to a great improvement in the company’s image as a reliable and trustworthy company, by the national and international communities.
SK Telecom also received an A- Credit Rating from S&P, which is the other major credit rating organization.