...HONG KONG (S&P Global Ratings) Feb. 3, 2017--S&P Global Ratings said today that its ratings on Korea-based refining and petrochemical producer SK Innovation Co. Ltd. (###+/Stable/--) and its 100%-owned subsidiary SK Global Chemical Co. Ltd. (SKGC: ###+/Stable/--) are not affected by a proposed acquisition of the ethylene acrylic acid (EAA) business of The Dow Chemical Co. for about Korean won (KRW) 420 billion. We believe the acquisition will have limited impact on SK Innovation's financial strength. That's because our base case already factors in increasing investments of about KRW3 trillion in 2017, compared with less than KRW1 trillion in 2016. We expect the company to be able to fund a large portion of its increasing investments and dividends from operating cash flows without increasing its debt level significantly over the next 12-24 months. We also expect the acquired business will not have a material impact on SK Innovation's business profile, given the relatively small size of this...
