Hankook Tire assigned first-time rating from Moody’s and S&P

Hankook Tire has been assigned Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s (S&P). This is the first time that the tyre maker has been rated by Moody’s and by S&P, and it comments that this multi-national company level rating “reflects Hankook Tire’s strong position as a global premium tyre brand.”

In a statement, the manufacturer writes that “rating agencies have recognised that Hankook Tire has a high level of operational efficiency, as evidenced by its robust profitability and low financial leverage.” It adds: “Hankook Tire’s solid financial structure is based on a prudent financial policy. Its brand value through the steady growth of sales of the ultra-high-performance tyres (UHPT) and its premium original equipment (OE) supply were also taken into consideration. Hankook Tire’s first-time rating of Baa2 and BBB is in the same rating category as other Multi-National Corporations (MNC) such as Marriott, Ford and Fedex which were also assigned by Moody’s and S&P.”

Mr. Seung Hwa Suh, vice-chairman and chief executive officer of Hankook Tire, said: “The ratings prove our effort as a global leading tyre company. Based on our innovative technology, Hankook Tire will continue to do its best to pioneer into a technological leader and to lead future driving.”