Seoul, Korea / Neu-Isenburg, Germany, August 17, 2017 – Leading global tyre company Hankook Tire, announced that the company has been assigned for Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s.
Rating agencies have recognised that Hankook Tire has a high level of operational efficiency, as evidenced by its robust profitability and low financial leverage. Hankook Tire’s solid financial structure is based on a prudent financial policy. Its brand value through the steady growth of sales of the Ultra High Performance Tires (UHPT) and its premium Original Equipment (OE) supply were also taken into consideration. Hankook Tire’s first-time rating of Baa2 and BBB is in the same rating category as other Multi-National Corporations (MNC) such as Marriott, Ford and Fedex which were also assigned by Moody’s and S&P.
Mr. Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire said, “The ratings prove our effort as a global leading tyre company. Based on our innovative technology, Hankook Tire will continue to do its best to pioneer into a technological leader and to lead future driving.”
Meanwhile Hankook Tire presented the Hankook Technodome, a Research & Development center opened in October 2016 with the aim to strengthen its global R&D capabilities and create a new level of technology leadership and quality competitiveness. As a result of Hankook Tire’s efforts to fulfill its social responsibilities, the company has become the first Korean tyre company to be recognised as a global and top-tier sustainability management company. This is evident in Hankook’s place within the ‘2016 Dow Jones Sustainability Index World’, a global sustainability evaluation and social responsibility investment index.