Woori Financial Capital Achieves S&P Credit Rating 'A-' for the First Time

Woori Financial Capital announced on the 12th that it received an A- long-term credit rating (short-term A-2) from the global credit rating agency Standard & Poor's (S&P). This is the first time Woori Financial Capital has been rated by a global credit rating agency.

S&P analyzed that Woori Financial Capital plays a key role within the Woori Financial Group in diversifying its business and strengthening its non-bank sector. The group’s strong support potential, strategic importance within the group, market dominance among peer companies, and adequacy of capital and liquidity were highly evaluated. S&P particularly praised the solid business position and stable profitability in the auto finance sector. It noted that Woori Financial Capital has secured various partnerships with companies such as Tata Daewoo Commercial Vehicle, Ford Motor Company, and Stellantis Korea, and possesses long-standing operational know-how and brand reputation.

Woori Financial Capital stated that it is the first capital company affiliated with a financial holding company to receive a credit rating from S&P. The A- rating from S&P is the seventh highest among credit ratings and corresponds to Moody’s A3 rating, another global credit rating agency.

Jung Yeon-gi, CEO of Woori Financial Capital, said, "Being recognized for financial soundness and market competitiveness by S&P, one of the world’s top three rating agencies, is expected to enhance our position and brand value as a capital company under a domestic financial holding company." He added, "This credit rating acquisition will serve as a foundation for stable funding and expansion into overseas markets in the future."