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Huvis (CEO / Yoo, Bea Keun), the leading cutting-edge chemical & fiber materials company, announced on the 13th that its corporate credit rating rose from ‘BBB-‘ to ‘A- with a stable outlook’ in a credit evaluation conducted by Korea Ratings (hereinafter referred to as “the KR”) andNational Information & Credit Evaluation.
Huvis stated that the improvement in the credit rating was attributed to its stable market position as the nation’s largest polyester company and a positive outlook on maintaining the business stability based on the expanded demand for its main product.
The KR pointed out that the main factors of the increase in the credit rating of Huvis include: ▲ high business competitiveness such as its position in the domestic market for the main product, ▲ an improvement in business stability based on its position in the market and the demand in the industry, ▲ maintenance of excellent financial flexibility owing to its substantially debt-free status, and ▲ vertical integration in business with a stockholding company and a rise in its importance within the vertical integration.
The KR management announced, “The domestic chemical fiber industry has shown a recovery of competitiveness since 2008. Thus, Huvis, as the leading company in the industry, retains business stability, such as the increasing profitability every year, which is based on its stable business position, product competitiveness, and diversified customers.” He added, “Huvis is expected to maintain an excellent operating profitability due to its high technological competitiveness such as its differentiated products.“