Enhanced Credit Rate
South Korea's three major credit rating agencies raised Hanmi Pharmaceutical’s credit rating to A+.
Hanmi Pharmaceutical, one of the nation’s leading drugmakers, announced on May 24 that its credit rating was recently upgraded from “A0 (positive review)” to “A+ (stable)” through the regular evaluation conducted by the nation’s top three credit rating appraisers – Korea Investors Service, Korea Ratings and NICE Information Service.
According to the latest regular evaluation, the company will be able to secure the profitability and excellent financial stability in the medium and long term due to the fact that it has raised its profits from global licensing contracts, improved the financial stability due to a large amount of down payments, entered the virtuous cycle of R&D investment and achieved excellent R&D results and R&D pipelines.
Hanmi Pharmaceutical Vice President Kim Jae-sik said, “The company has received an outstanding credit rating thanks to the latest global achievements and the virtuous cycle of R&D investment. With the upgraded credit rating, the company’s interest rates will be cut and its financial stability will also significantly improve.”