LS Group's holding company LS Corp. said on the 20th that it received an "A0 (stable)" credit rating from Japanese credit rating agency JCR (Japan Credit Rating Agency). This is the first time LS Corp. has been rated by JCR.
In its rating report, JCR said, "LS Corp. owns core operating subsidiaries with firm market competitiveness, including LS Cable & System, LS Electric, and LS MnM, giving it strong resilience against economic cycles," and noted, "Through preemptive risk management and strategic portfolio diversification, it has secured stable revenue generation capacity on a consolidation basis."
Typically, Korean corporations rated A0 by JCR have a domestic credit rating around AA-. Despite having a domestic credit rating one notch lower than AA-, at A+, LS received an A0 rating. An LS Group official said, "Earning an A0 rating is recognition of stable creditworthiness in the global capital market, externally proving that our business structure and financial soundness are strong."
Domestic credit rating agencies have also recently raised LS Corp.'s credit rating outlook. The three major domestic credit rating agencies—Korea Ratings, Korea Investors Service, and NICE Investors Service—at the end of Jun. upgraded the outlook on LS Corp.'s unsecured corporate bond rating to "A+ positive" from "A+ stable." The unsecured bond credit rating remained "A+." In addition, domestic rating agencies said LS continues to maintain stable financial soundness indicators, noting that its actual cash generation relative to net debt is also at 4.3 times (based on the end of 2025).
An LS Group official said, "With the A0 rating from JCR, we expect to expand loan agreements with Japanese banks and improve financing terms," adding, "We will further strengthen the efficiency of our financial structure by diversifying global funding channels and optimizing funding expense."