SK Innovation Co. Ltd. Upgraded To 'BBB+' On Prudent Financial Policy And Solid Operating Cash Flow; Outlook Stable

We expect the credit quality of SK Innovation to become less vulnerable to the volatility in oil refining and petrochemical industries over the next 12-24 months given its prudent financial policy, as shown by its much lower debt level than in the past. We expect fewer swings in oil prices and the demand-supply dynamics of the regional oil refining and petrochemical industries, which could support solid operating cash flow for the Korea-based refining and petrochemical producer over the next 12-24 months. We are raising the corporate credit rating on SK Innovation to 'BBB+' from 'BBB'. The stable outlook reflects our expectation that SK Innovation is likely to maintain its debt-to-EBITDA ratio at around 1x over the next 12-24 months, given

...+ We expect the credit quality of SK Innovation to become less vulnerable to the volatility in oil refining and petrochemical industries over the next 12-24 months given its prudent financial policy, as shown by its much lower debt level than in the past. + We expect fewer swings in oil prices and the demand-supply dynamics of the regional oil refining and petrochemical industries, which could support solid operating cash flow for the Korea-based refining and petrochemical producer over the next 12-24 months. + We are raising the corporate credit rating on SK Innovation to '###+' from '###'. + The stable outlook reflects our expectation that SK Innovation is likely to maintain its debt-to-EBITDA ratio at around 1x over the next 12-24 months, given its prudent financial policy and solid operating cash flow. HONG KONG (S&P Global Ratings) Jan. 24, 2017--S&P Global Ratings said today it raised its long-term corporate credit rating on SK Innovation Co. Ltd. to '###+' from '###'. The outlook...

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