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Biz News Korea(Eng)
S&P pushes Samsung Electronics to AA-, fourth highest on its scale
- Collected
- 2017.07.22
- Distributed
- 2017.07.26
- Source
- Go Direct
S&P on Friday raised the South Korean tech giant’s long-term debt rating by one notch from ‘A+’ to ‘AA-,’ and affirmed its ‘A-1+’ short-term corporate credit rating. The outlook on the issuer was “stable.”
The agency forecast Samsung Electronics to “generate strong cash flows and maintain its robust net cash position with disciplined financial policies over the next one to two years,” and also predicted the firm to keep “its operating performance during industry downturns due to its strengthened global market position, technological leadership, and diverse business portfolio.”
According to its preliminary figures, the company recorded historic-high operating profit of 14 trillion won ($12 billion) in the second quarter ended in June
The company is also expected to have outperformed Apple Inc. and Intel Inc. in April-June performance.
Shares of Samsung Electronics closed Friday at 2,554,000 won ($2,283.42), down 6,000 won or 0.23 percent from the previous session.
By Lee Dong-in
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]