Moody's stabilizes SK Innovation view

Moody's Investors Service said it revised to stable from negative the outlook on SK Innovation Co. Ltd. (SKI) and affirmed the Baa3 issuer rating.

Moody's said it also affirmed the Baa3 backed senior unsecured rating of SK Battery America, Inc., reflecting the guarantee from the company's ultimate parent, SKI. The agency also changed SK Battery America's outlook to stable from negative.

"The change in SKI's outlook to stable from negative reflects our expectation that the company's financial leverage will improve gradually over the next 12-18 months, as earnings growth in its battery business will likely more than offset net debt growth," said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a press release.

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