Doosan Bobcat Receives First Domestic Credit Rating of 'AA-'; Funding Strategy Gains Flexibility

Doosan Bobcat, a Global Company Centered in North America
"Recognized for Business Stability and Profitability"

Doosan Bobcat has made its debut in the domestic credit rating market and received an excellent evaluation. Although the company operates a global construction equipment business centered in North America, this is the first time its creditworthiness as a domestic company has been formally assessed.

On June 5, Doosan Bobcat announced that it had been assigned a corporate credit rating (ICR) of 'AA- (Stable)' by Korea Ratings. This is the first time the company has requested a rating from a domestic credit rating agency, and it is interpreted as a preliminary step to expand domestic funding channels, such as issuing corporate bonds in the future. Korea Ratings assigns AA ratings to companies with high creditworthiness, and assigns lower grades such as A or BBB depending on its evaluation criteria.

Korea Ratings positively evaluated Doosan Bobcat's global market position, brand recognition, profitability, and the stability of its financial structure. In fact, Doosan Bobcat is a brand that competes for the number one or two position in the North American compact construction equipment market. Over the past five years, the company has recorded an average annual sales growth of 15% and an operating profit growth of 18%. As of the end of last year, its EBITDA margin stood at 13%, and its debt ratio was at the level of 74%.

A Doosan Bobcat representative stated, "Acquiring a domestic credit rating this time will serve as an opportunity to enhance our external credibility," adding, "With greater flexibility in our funding strategy, we will further solidify our business competitiveness through balanced capital management, even amid market uncertainties."