Kumho Tire’s credit rating has been upgraded following a debt rescheduling program, according to The Korean Times.
The newspaper reported Kumho’s rating has been revised to an A- by BBB reflecting a stable cash flow.
“Kumho Tire entered the workout program in 2009. During the next five years, the company streamlined itself through capital reduction and debt repayment. It is now back on track and expected to make solid earnings based on strong sales network and diversified product lineup,” a company spokesman said in a release.