[Alpha Biz=(Chicago) Reporter Paul Lee] Three domestic credit rating agencies lowered LG Display's corporate bond credit rating and outlook from A+, negative to A, and stable.

According to an analysis of credit rating reports of LG Display's corporate bonds by three domestic credit rating companies on the 21st, the fact that large-scale investments are being made amid worsening performance was presented as the basis for the downward revision of the credit rating.

LG Display recorded a loss of KRW 26.1518 trillion in 2022, down 12.5% from the previous year, and a loss of KRW 2.85 trillion in operating profit and loss. In the first quarter of 2023, sales fell 31.8% from a year ago to 4.4111 trillion won in sales and 1.984 trillion won in operating losses, while operating profit and loss have continued to remain sluggish.

 

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