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Taihan Upgraded to 'A' by Korea Ratings—Secures 'A' Ratings from All Three Major Korean Credit Rating Agencies

- Korea Ratings upgrades Taihan following NICE Investors Service and Korea Investors Service, assigning an ‘A’ grade with a ‘Stable’ outlook

- Upgrade reflects improved profitability, business stability, and sound financial structure

- Diversified product portfolio and strong order backlog are expected to sustain continued growth

Taihan has received an Issuer Credit Rating (ICR) of ‘A’ with a ‘Stable’ outlook from Korea Ratings (KR), an upgrade from its previous ‘A-, Positive’ rating in 2022.

With this latest upgrade, Taihan has now secured ‘A’ credit ratings from all three leading Korea’s credit rating agencies, evidencing official recognition of the company’s robust financial performance and growth potential. Previously, the company was granted ‘A’ ratings from NICE Investors Service in June and Korea Investors Service on July 10.

KR identified several key drivers for the rating upgrade: ▲ Expansion in Revenue and Profitability ▲ Maintenance of a Stable Financial Structure ▲ Expectations of Improved Operating Performance Supported by a High-quality Order Intake.

In its official report, KR stated: “Amid favorable business conditions, Taihan is expected to maintain enhanced profitability and stable operating cash flow, underpinned by a diversified product portfolio and continued strong order performance. While investment requirements are expected to rise with ongoing business expansion, the company is anticipated to sustain sound financial stability through its financial buffers and operating cash flow generation capacity.”

Additionally, KR highlighted, “Order backlogs have improved both in quantity and quality, with the company securing new orders from global clients across regions such as the United States and Europe, resulting in greater profitability compared to previous periods. Based on its proven track record in both domestic and international cable supply and project execution, Taihan is expected to consistently secure new orders going forward.”

A Taihan spokesperson commented, “Receiving ‘A’ ratings from all three major Korean credit agencies is external recognition of both our business growth and financial stability. We will further strengthen our market competitiveness by expanding into the submarine cable and high-voltage direct current (HVDC) cable sectors, ensuring sustainable growth as a trusted partner for our global customers.”