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[Alpha Biz=(Chicago) Reporter Paul Lee] Shares of Lotte Group affiliates weakened all at once on the 21st. It is believed that major credit rating agencies have lowered the credit ratings of four affiliates, affecting investor sentiment.
According to the Korea Exchange, Lotte Holdings closed at 27,450 won, down 1.96% from the previous trading day. In addition, stock prices of major affiliates such as Lotte Shopping (-3.96%), Lotte Chemical (-3.30%), Lotte Rental (-2.80%), and Lotte Hi-Mart (-2.28%) plummeted, except for Lotte Insurance (0.17%), which closed strongly.
Nice Credit Ratings lowered the credit ratings of all four Lotte Group affiliates. Nice Credit Rating lowered Lotte Chemical's credit rating from AA+ (negative) to AA (stable), AA- (stable) from Lotte Holdings AA (negative), Lotte Rental from AA- (negative) to A+ (stable), and Lotte Capital from AA- (negative) to A+ (stable).
Korea Credit Rating also lowered the credit ratings of Lotte Chemical and Lotte Holdings to AA (stable) and AA- (stable), respectively.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
