Fitch: SK Innovation, SK Global to negative

Fitch Ratings said it revised the outlooks on SK Innovation Co., Ltd. and subsidiary SK Global Chemical Co., Ltd. to negative from stable.

The long-term issuer default ratings and senior unsecured debt ratings were affirmed at BBB, as was SK Innovation’s short-term issuer default rating at F3.

Fitch said the revision of SK Innovation’s outlook reflects its weaker-than-expected financial profile at the end of the 2014 first half and the challenges it may face in maintaining a financial profile appropriate for its BBB ratings.

The revision of SK Global’s outlook reflects the change to SK Innovation’s outlook given the strong linkages between the two entities.

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