[Alpha Biz=(Chicago) Reporter Kim Jisun] Three credit rating agencies have raised Korean Air's credit rating to A-level one after another. It is the first time in about eight years that Korean Air has regained its A-level since 2015.

Nice Credit Rating said on the 30th that it will raise the credit rating of Korean Air from BBB+ to A-. The rating outlook has changed from 'positive' to 'stable'.

"Although the unfavorable macro environment continues, such as the slowing cargo market, Korean Air is showing a solid recovery in international passenger demand," said Moon Ah-young, a researcher at Nice Credit Rating.

"Financial stability has improved significantly due to paid-in capital increase and strong business performance," said a researcher at Nice Investors Service. "Even after the acquisition of Asiana Airlines, the increase in Korean Air's financial burden is expected to be limited."

In fact, Korean Air's financial buffer has improved, with more than 6 trillion won in cashable assets on a consolidated basis at the end of June this year.

In addition, the combined debt ratio of both Korean Air and Asiana Airlines is 350% and the dependence on loans is 45%, and the financial burden is manageable after the acquisition.

Previously, the Korea Credit Rating and the Korea Corporate Rating raised the credit rating of Korean Air from BBB+ to A- on the 27th.

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]