The Korea Times
Kumho Tire said Tuesday that Korea Investors Service (KIS), one of the country’s leading credit rating agencies, raised its corporate credit rating two notches to A+ with a stable outlook, from A0 with a stable outlook, citing stronger earnings and a reduced debt burden. KIS cited three factors driving the upgrade: a more stable global operating base, improved earnings power through a shift toward higher-margin products and debt reduction funded by operating cash flow. In its report, the rating agency determined that Kumho Tire has built a resilient business structure capable of withstanding external volatility, supported by diversified key clients and a broader network of domestic and overseas production facilities. The rating agency pointed to the company’s aggressive expansion of distribution channels in North America and Europe as a key driver of its recent earnings gains. Kumho Tire said it has been increasing its share of higher-value products, including large-diameter tires and its electric-vehicle line, EnnoV, which it said has helped drive record results. The rating upgrade i
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