WB Group President Piotr Wojciechowski (L) and Hanwha Aerospace Europe President Billy Boo Hwan Lee (R) attend the signing ceremony between the Polish Defense contractor WB Electronics and South Korea's Hanwha Aerospace agreement at the WB Group Showroom in Warsaw, Poland. Photo by Przemyslaw Piatkowski / EPA
June 22 (Asia Today) -- Hanwha Aerospace has become the first South Korean defense and aerospace company to receive a global credit rating after S&P Global Ratings assigned the company an A- rating with a stable outlook.
Hanwha Aerospace said Monday that the rating would provide an important measure of financial credibility as it expands defense exports and negotiates investments with foreign governments.
"Securing a strong global credit rating is a key factor in establishing trust during discussions with overseas governments and negotiations involving local investment," said Kim Cheol-hong, chief financial officer at Hanwha Aerospace.
"Based on the S&P rating, we will further strengthen our global competitiveness across the defense, space and aerospace sectors," Kim said.
