Daewoo E&C Acquires Credit Rating from Japan’s JCR

Daewoo Engineering & Construction has secured a credit rating from Japan Credit Rating Agency (JCR), one of Japan’s major credit rating agencies, solidifying its position as a global construction firm while boosting its funding flexibility in financial markets across the Middle East, Singapore, and now Japan.

Since the beginning of the year, Daewoo E&C has been engaged in the evaluation process with JCR. In early March, JCR evaluators visited Daewoo E&C’s headquarters and project sites to conduct due diligence on the company’s ongoing projects and financial status. On April 11, JCR assigned Daewoo E&C a credit rating of A-/Stable.

JCR stated that the rating was based on “the company’s strong business foundation in both the domestic housing market and operating international markets, relatively stable profitability, and conservative risk and financial management policies.”

A representative from Daewoo E&C noted, “It is common to see a two-notch difference between JCR credit ratings and domestic ratings, but Daewoo E&C recorded a difference of just one notch. The company’s global competitiveness and balanced business portfolio were key factors in achieving this result.”

With this rating from a Japanese credit agency, Daewoo E&C is expected to pursue expanded loan agreements with Japanese banks and improve its financial conditions.