Shinhan Investment Corp. Moody's Rating Outlook Upgraded to 'Stable'

Shinhan Investment Corp. announced on September 26 that global credit rating agency Moody's has reaffirmed its long-term and short-term foreign currency corporate credit ratings at 'A3' and 'P-2', respectively, and upgraded its rating outlook to 'Stable'.

As a result, Shinhan Investment Corp. has regained the highest rating among domestic securities firms. Based on the standalone rating (Ba1), it has also become the only private securities firm to receive the top rating.

Moody's cited improvements in leverage ratio, a favorable business environment, and a recovery in profitability as the main reasons for the outlook upgrade. In particular, despite internal control issues in recent years, Moody's highly evaluated the company's efforts to strengthen its enterprise-wide internal control system and invest in digitalization, noting that these initiatives are expected to help mitigate future earnings volatility and enhance risk management capabilities.

Additionally, the improved contribution to earnings within the group, as Shinhan Investment Corp. is a wholly owned subsidiary of its parent company Shinhan Financial Group (A1, Stable), and the long-term and strategic importance of capital markets within the financial group, were also reflected in the rating.

Shinhan Investment Corp. stated, "This credit rating outlook upgrade is the result of our continuous efforts to improve both internal controls and profitability," adding, "We will continue to strive to strengthen the company's profitability and financial soundness going forward."