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Bulletin: Ratings On Korea's KCC Corp. Unaffected By Planned Acquisition Of Shares In Samsung Everland Dec 11
Standard & Poors, December 2011
HONG KONG (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services said today its long-term corporate credit rating and debt rating on Korea-based paint and building materials manufacturer KCC Corp. (KCC; BBB/Stable/--) are unaffected by the company's plan to buy shares in Samsung Everland Inc. (Samsung Everland; not rated). KCC announced Dec. 12, 2011, that it would acquire a 17% stake in Samsung Everland for Korean won (KRW) 774 billion. Samsung Everland plays a pivotal role in Samsung Group's ownership structure, holding 19% of Samsung Life Insurance Co. Ltd. (not rated). KCC is likely to complete the acquisition by the end of January 2012. In our view, KCC's acquisition of shares in Samsung Everland would impair its financial risk...
Companies mentioned in this report are: KCC Corp.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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