• April 13, 2024

KT&G Receives AAA Credit Rating

 KT&G Receives AAA Credit Rating
Image: Tobacco Reporter archive

KT&G has obtained the highest grade of AAA in all three major domestic corporate credit ratings: Korea Ratings, Korea Credit Rating and NICE Credit Rating.

Among domestic private companies excluding financial and telecommunications companies, KT&G is the only company to achieve a corporate credit rating of AAA.

The corporate credit rating agencies have assessed KT&G’s business stability as extremely excellent based on its high market position in key business sectors. The agencies have given high evaluations to the company’s solid domestic market dominance, built on its long history, high brand recognition as well as its strong presence in the global tobacco and e-cigarette industries.

Furthermore, with plans for dividend payments, share buybacks and investments aimed at shareholder returns and expanding domestic and international production facilities, it is expected that KT&G will maintain excellent financial stability by ensuring smooth cash generation to meet funding requirements in the future.

A KT&G representative stated, “Amid increased uncertainties in both domestic and international markets, such as recent interest rate hikes, many companies have faced challenging business environments. In this context, we believe that KT&G’s achievement of the highest AAA rating from the three credit rating agencies is a recognition of our company’s stability and profitability by external entities.” They further added, “We will continue to strive to maintain a stable financial structure based on our excellent creditworthiness and make every effort to ensure financial stability in the future.”