Moody's ups KCC to Baa2

Moody's Investor Service said it upgraded the issuer rating and senior unsecured bond rating of KCC Corp. to Baa2.

The outlook is stable.

This concludes Moody's review initiated in May. The upgrade reflects KCC's continued debt reduction over the past two years, the agency said, and the fact that the company has maintained its leading positions in its key businesses, which has resulted in a credit profile consistent with a higher rating.

The rating also incorporates its strong market positions and established long-term customer relationships, business diversity and ability to maintain stable operating performance and cash flow, Moody's added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.