SK Innovation improved its cash flow protection measures in 2010, mainly due to a rise in oil refining margins. We expect SK Innovation's financial risk profile to improve further this year, given our view that the company will maintain strong oil refining margins and reduce debt. We revised to stable from negative the outlook on the long-term corporate credit rating on SK Innovation and affirmed the 'BBB' long-term corporate credit and debt ratings on the company. HONG KONG (Standard&Poor's) March 7, 2011--Standard&Poor's Ratings Services today revised to stable from negative the outlook on its 'BBB' long-term corporate credit rating on Korea-based SK Innovation Co. Ltd. (SK Innovation), reflecting the improving profitability and financial risk profile of
