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Hankook Tire assigned first-time Baa2, BBB rating from Moody’s and S&P respectively
- - The investment grade of Baa2, BBB rating reflects Hankook Tire’s strong position as a global premium tire brand
August 16, 2017 (Seoul, Korea) – Leading global tire company Hankook Tire (CEO Seung-Hwa Seo), announced today that the company has been assigned first-time for Baa2, BBB ratings from the international credit rating agencies, Moody’s and S&P (Standard & Poor’s), respectively.
Rating agencies have recognized that Hankook Tire has a high level of operational efficiency as evidenced by its robust profitability and low financial leverage. Hankook Tire’s solid financial structure based on a prudent financial policy, its brand value through the steady growth of the Ultra High Performance Tires’ (UHPT) sales and premium OE supply were also taken into consideration. Hankook Tire’s first-time rating of Baa2, BBB is in the same rating category where other Multi-National Corporations (MNC) such as Marriott, Ford and Fedex were assigned by Moody’s and S&P.
Mr. Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire said, “The ratings we received today means a lot for us, proving our effort as a global leading tire company. Based on our innovative technology, Hankook Tire will continue to do our best to pioneer into a technological leader and to lead future driving.”
Meanwhile, Hankook Tire presented Hankook Technodome, a R&D center (Research and Development center), in October 2016, to strengthen its global R&D capabilities and create a new level of technology leadership and quality competitiveness. As a result of Hankook Tire’s efforts to fulfill its social responsibilities, the company has become the first Korean tire company to be recognized as a global top-tier sustainability management company by being incorporated with the ‘2016 Dow Jones Sustainability Index World’, a global sustainability evaluation and social responsibility investment index.