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Home Finance Financial Information & Results Credit Ratings

Credit Ratings

Hankook Tire maintains a high credit rating by upholding a transparent and reliable financial structure, with steady progress in business performance.

Hankook Tire maintains a high credit rating by upholding a transparent and reliable financial structure, with steady progress in business performance.
Debt by Currency
Assessment Date Type of Rating Rating Agency
06/29/2016 Corporate Bond AA Korea Ratings (KR)
12/15/2015 CP A1
06/01/2015 CP A1
06/01/2015 CP A1
04/30/2015 Corporate Bond AA
02/27/2015 Corporate Bond AA
07/29/2014 Corporate Bond AA
05/29/2014 Corporate Bond AA
06/16/2016 Corporate Bond AA Korea Investors Service Inc. (KIS)
06/02/2015 Corporate Bond AA
06/02/2015 CP A1
02/26/2015 Corporate Bond AA
07/31/2014 Corporate Bond AA
05/29/2014 Corporate Bond AA

The validity term of commercial paper ratings is three months after the evaluation date and that of corporate bonds is 12 months or six months from the settle date.

Definition of Credit Rating

01. Definition of Commercial Paper Credit Rating

Commercial paper is rated at six levels from A1 to D. Of them, A1~A3 are investment grade, where the ability to pay on time is accepted, and B and C are classified as speculative grade where ability to pay on time can be greatly influenced by environmental change.
  • A1. Ability to pay on time and stability are the best.
  • A2. Ability to pay on time is excellent but its stability is a little lower than A1.
  • A3. Ability to pay on time is good and its stability is also good, but these are lower than A2.   
  • B. Ability to pay on time is regarded reasonable, but stability includes speculative factors according to short-term changes of environment.
  • C. Ability to pay on time and stability both have a high-level of speculative factors.
  • D. It is in the state of default.

* The above grades A2 though B can be qualified with either a plus (+) or minus (-) to indicate a finer distinction.

02. Definition of Commercial Corporate Bond Rating

Corporate bonds are rated according to ten credit grades, ranging from AAA to D, depending on the ability to repay the principle. AAA through BBB are investment grade and the capability to repay the principle is recognized. BB through C are speculative grade, meaning changes in the business environment will affect repayment capability.

  • AAA. The ability to pay the principle is the highest possible.
  • AA. The possibility of principle repayment is excellent, but slightly lower than AAA.
  • A. The possibility of principle repayment is very good, but repayment capability can easily be affected should
    economic conditions worsen.
  • BBB. The possibility of principle repayment is good, but the capability is more susceptible to a worsening
    economic situation than the above grades.
  • BB. The ability to repay the principle is weak, and repayment of interest is uncertain should conditions worsen.
  • CCC. This grade is very speculative, as principle payment could be hampered by existing factors and a major
    risk of default exists.
  • CC. The destabilizing factors are even worse than those for higher grades.
  • C. A high probability of default exists and there is no ability to pay the principle.
  • D. Repayment is impossible.

* The above grades A2 though B can be qualified with either a plus (+) or minus (-) to indicate a finer distinction.

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