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[Alpha Biz=(Chicago) Reporter Paul Lee] Stock prices have been struggling as the construction industry crisis has become a reality, while GS E&C's credit rating has been downgraded due to financial burden since the collapse of Geomdan Apartment last year.
As of 2:30 p.m. on the 4th, GS Engineering & Construction is trading at 14,530 won, down 0.95% from the previous day. GS Engineering & Construction has continued to remain at 14,000 won this year after its stock price fell to 15000 won, down 970 won on Dec. 27 last year.
GS E&C is analyzed that as Taeyoung E&C has recently launched a workout due to high interest rates and real estate project financing (PF) risks, the crisis has spread across the real estate industry, leading to a negative impact on stock prices.
In fact, GS Engineering & Construction has lowered its credit rating from the previous "A +" to "A" by the Korea Enterprise Evaluation (Han Ki-pyeong) since the collapse of the underground parking lot at the Gumdan apartment in Incheon last year. GS Engineering & Construction's debt ratio reached 250.3% as of the end of September last year, with sequential deposits reaching 2.6059 trillion won over the same period.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
