HONG KONG (Standard&Poor's) Nov. 16, 2012--Standard&Poor's Ratings Services today said its long-term corporate credit and debt ratings on Korea-based oil refining and petrochemical company SK Innovation Co. Ltd. (BBB/Stable/--) are unaffected by a subsidiary's plan to conduct a Korean won (KRW) 800 billion rights offering. On Nov.13, 2012, SK Energy Co. Ltd (not rated), a wholly owned oil refining and marketing subsidiary of SK Innovation, announced a plan to issue KRW800 billion in redeemable and convertible preferred shares and allocate them to a private equity fund based in Korea. SK Energy said it is likely to use proceeds from the deal to fund part of a KRW1.6 trillion project to add paraxylene production capacity to the
