SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed - S&P Global Ratings’ Credit Research

SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed

SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed - S&P Global Ratings’ Credit Research
SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed
Published Mar 18, 2014
1726 words — Published Mar 18, 2014
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About This Report

  
Abstract:

We expect the ratio of SKI's debt to EBITDA to hover around our downgrade trigger of 3x over the next 24 months because of a continuation of weak profitability in its oil refining business and higher debt. We are revising our outlook on our long-term corporate credit rating on SKI to negative. We are affirming our 'BBB' long-term corporate credit and debt ratings on SKI because we see improving prospects for its operating performance in the petrochemical business and its declining capital investments. The negative outlook reflects our opinion that SKI's financial risk profile has little headroom to maintain the current ratings over the next 24 months given that we see potential for its operating performance to fall short of

  
Brief Excerpt:

RESEARCH SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed Publication date: 18-Mar-2014 Primary Credit Analyst: Sangyun Han, Hong Kong (852) 2533-3526; sangyun.han@standardandpoors.co...

  
Report Type:

Ratings Action

Ticker
096770@KS
Issuer
SK Innovation Co. Ltd.
GICS
Oil & Gas Refining & Marketing (10102030)
Sector
Global Issuers
Country
Korea
Region
Emerging Markets
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed" Mar 18, 2014. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/SK-Innovation-Outlook-Revised-To-Negative-On-Prospect-Of-Continued-Weak-Refining-Profit-Higher-Debt-Ratings-Affirmed-1277886>
  
APA:
S&P Global Ratings’ Credit Research. (). SK Innovation Outlook Revised To Negative On Prospect Of Continued Weak Refining Profit, Higher Debt; Ratings Affirmed Mar 18, 2014. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/SK-Innovation-Outlook-Revised-To-Negative-On-Prospect-Of-Continued-Weak-Refining-Profit-Higher-Debt-Ratings-Affirmed-1277886>
  
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