Bond credit rating
| Evaluation year |
Credit Rating |
Credit rating agency |
| 2022 |
A0 |
NICE Investors Service |
| A0 |
Korea Investors Service |
| 2021 |
A0 |
NICE Investors Service |
| A0 |
Korea Investors Service |
| 2020 |
A0 |
NICE Investors Service |
| A0 |
Korea Investors Service |
Definition of bond credit rating
Bond credit ratings are categorized into ten grades ranging from AAA to D based on the degree of ability to pay principal and interest.
AAA to BBB are investment grades in which the ability to repay principal and interest is recognized, whereas BB to C are speculative grades that are highly susceptible to environmental changes.
| A |
AAA |
Highest level of ability to repay principal and interest |
| AA |
Excellent ability to repay principal and interest, but somewhat inferior to AAA |
| A |
Although the ability to repay principal and interest is excellent, the company is more susceptible than higher grades to the effects of economic conditions and environmental deterioration |
| B |
BBB |
Although the ability to repay principal and interest is good, it implies the possibility that the company’s ability to repay principal and interest will deteriorate in the future due to weakening economic conditions and environmental conditions compared to higher grades |
| BB |
The ability to repay principal and interest is not an issue as of present, but it contains speculative elements whose future security cannot be guaranteed |
| B |
It is speculative due to the inability to repay principal and interest, as well as the uncertainty of paying interest during economic downturns |
| C |
CCC |
There are currently elements of uncertainty regarding the payment of principal and interest, and the risk of default on the debt is high; therefore, it is highly speculative |
| CC |
The anxiety level is higher than in the higher grades |
| C |
There is a high likelihood of default and no means to repay principal and interest |
| D |
D |
Unlikely or unable to repay |
