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[Alpha Biz=(Chicago) Reporter Kim Jisun] The Korea Credit Rating maintained the credit rating of corporate bills and short-term bonds at A3 due to continued operating losses and heavy financial burdens compared to cash-generating power.
The Korea Investors Service lowered its credit rating from A3+ to A3, saying Homeplus' competitiveness in the large mart industry weakened on Feb. 28 last year and maintained it in its reassessment on the 28th of last month.
The evaluation also pointed out that Homeplus has weakened its competitiveness in the large mart market due to continued sales of stores and limited facility investment.
It is predicted that consumption will slow due to high interest rates and high prices, and consumption patterns that are disadvantageous to large retailers such as online, short-range and small purchases will be hardened, so it will not be easy to improve a significant level of profitability in a short period of time.
The Korea Corporate Evaluation also decided to maintain Homeplus' credit rating for corporate bills and short-term bonds at A3 at the end of last month, citing its "heavy financial burden compared to its revenue-generating power."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
