[Alpha Biz=(Chicago) Reporter Paul Lee] SK ON received an excellent rating of 'A2+' in its first credit rating. At a time when hundreds of billions of won needs to be invested every year to expand batteries, there is a green light for attracting external funds.
As a result, SK ON is expected to begin work to attract funds soon.
According to the industry on the 31st, SK On was rated as 'A2+' by Nice Credit Rating and Korea Credit Rating on the 30th. This is the first 'main evaluation' conducted by SK On directly to a credit rating agency.
In order for SK ON to issue corporate paper securities, it must receive short-term credit ratings from at least two of the Korea Credit Rating, Nice Credit Rating, and Korea Corporate Evaluation. Usually, blue-chip companies with short-term credit ratings of A or higher can smoothly issue and distribute promissory notes.
The battery industry expects SK On to raise funds within the year. As it usually takes two to three years to build a 30GWh battery cell plant and up to 150 billion won is invested per 10GWh production capacity, attracting external funds is inevitable to reduce the financial burden.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
