Sep. 11 at 10:32 PM
S&P Global Ratings revised its outlook on SK Innovation to Stable from Negative while affirming the company's BBB- long-term issuer credit rating, citing stronger expected earnings in 2026-2027 and ongoing asset disposals that should help reduce leverage. The company generated approximately KRW 7.2 trillion in EBITDA in the first half of 2026, supported by strong refining margins, tight lubricant supply and higher oil prices linked to Middle East tensions.
S&P expects SK Innovation's EBITDA to reach KRW 11.0 trillion in 2026, up sharply from KRW 3.9 trillion in 2025, before moderating to KRW 7.6 trillion in 2027. The company also completed about KRW 1.2 trillion in capital reductions from joint-venture investments in China and Southeast Asia, while SK Geo Centric expects roughly KRW 200 billion from asset and real-estate sales. SK Innovation could also use city-gas assets to repay KRW 3.1 trillion in redeemable convertible preferred shares in early 2027.
$SPGI