| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Korea National Oil Corp. > News item |
S&P lowers KNOC stand-alone to BB
Standard & Poor’s said it affirmed the AA- long-term corporate credit ratings on Korea National Oil Corp. (KNOC).
The agency also said it affirmed the AA- foreign-currency and cnAAA Greater China regional scale debt ratings on the company.
S&P also said it revised the company’s stand-alone credit profile to BB from BB+.
The outlook is stable.
The agency said it lowered the stand-alone credit profile because the company’s operating cash flows are expected to weaken over the next 24 months.
This is due to lower forecasted crude oil and natural gas prices, S&P said.
The impact of lower oil prices should be tempered, however, by the company’s efforts to improve its financial strength, the agency said.
© 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.