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Tobacco giant KT&G gets stable credit ratings from S&P, Moody's

Published: 08 Jan. 2025, 17:38 Updated: 08 Jan. 2025, 18:06

CHO YONG-JUN
[email protected]

KT&G

KT&G received stable ratings from global credit rating agencies, the tobacco company said Wednesday.

The firm received an A- rating from S&P Global, while Moody’s gave it an A3 rating.

“Global credit rating agencies determined that KT&G had high business stability based on a dominant position in Korea’s tobacco market,” the company said in a press release. KT&G leads both the tobacco and heated cigarette market in Korea, boasting a 66.8 percent and 46 percent market share in the third quarter of 2024, respectively.

The company also cited its “diverse portfolio,” including its ginseng and health-related products, as a reason for the positive credit ratings.

“KT&G will continue its effort to build a stable financial structure based on high credibility and will invest in the core businesses,” the company said Wednesday.

BY CHO YONG-JUN [[email protected]]