...Potential Government Support: Fitch Ratings incorporates a one-notch uplift to CI Guarantee's (CIG) standalone credit quality, reflecting our view of a high likelihood of extraordinary state support. The cooperative is directly supervised by South Korea's (AA-/Stable) Ministry of Land, Infrastructure and Transport. It provides guarantees, insurance and loans mainly to members in the plant and mechanical construction sector. Fitch believes CIG will benefit from government support, if needed, due to its policy role. 'Strong' Capitalisation: Fitch expects CIG to maintain a sound capital buffer to support the construction industry and absorb unexpected losses, although capital could be volatile if member credit quality deteriorates. Guarantee exposure to shareholders' funds reached 12.0x in 2025 (2024: 11.0x), below the regulatory capital requirement of 20x. CIG's Fitch Prism Global Model score was 'Extremely Strong' at end-2025. Member share contributions continued to drive capital growth,...
