Moody’s changes E Mart view to negative

Moody's Investors Service said it revised its outlook for E Mart Inc. to negative from stable, citing weak operating results.

“The change in outlook to negative reflects E Mart's weak operating results for Q2 2019, and the increasing likelihood that its profitability will remain very low over the next 1-2 years amid intensifying competition in the company’s core hypermarket business,” said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a news release.

Moody’s said it affirmed E Mart’s Baa3 issuer rating, mirroring the company’s leading position in Korea’s hypermarket sector and its liquid equity investments.

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