Credit rating upgrade puts Kumho Tire on the right track
Published: 25 Jun. 2015, 21:16
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.
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.
with the Korea JoongAng Daily
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