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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Korea Ratings announced on the 19th that it will lower the corporate credit rating outlook of Isu Chemical from 'stable' to 'negative'. The rating has been maintained at 'BBB'.
"Last year, Isu Chemical's petrochemical sales fell 7.3% year-on-year to 1.3816 trillion won," Korea Ratings said. "We recorded an operating loss of 24.2 billion won due to increased cost burden due to natural gas and high raw material prices."
Korea Ratings also said, "Business creation capacity has been greatly reduced due to the economy of the front industry and exposure to changes in raw material prices," and added, "The burden of affiliate financial support continues."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
