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(Photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] The Korea Corporate Evaluation lowered the credit ratings of E-Mart and Shinsegae Engineering & Construction. This is because the competitiveness of large discount stores has weakened and the profitability of the construction sector has decreased, adding to the financial burden.
On the 27th, the Korea Corporate Evaluation lowered E-Mart's unguaranteed bond credit rating from AA to AA-. Nice Credit Rating lowered its credit rating to AA- on the 22nd of this month and E-Mart's credit rating to AA- on the 26th. In addition to the Korean corporate rating, all three credit rating agencies lowered E-Mart's credit rating.
In addition, the Korea Corporate Evaluation lowered Shinsegae Engineering & Construction's unguaranteed bond credit rating from A to A-to-A and corporate paper rating from A2 to A2-.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
