Credit rating upgrade puts Kumho Tire on the right track

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Credit rating upgrade puts Kumho Tire on the right track

Korea Ratings Corporation has upgraded Kumho Tire’s credit rating from BBB to A-

The ratings agency announced Thursday that it made its decision based on the financial restructuring the company has pursued in the past five years since it filed for a workout in 2009.

In addition, recent improvement in the value of Kumho Tire stock, as well as a recent debt-to-equity swap that improved business performance also were cited as reasons for the higher rating.

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