영문 'Collapse Incident'-plagued GS E&C sees its credit rating fall from A+ to A

By Lee Kap-soo GS E&C (Engineering & Construction) is still reeling from the aftermath of the 'Incheon Geomdan Apartment collapse incident'. The company's financial health has been put on red alert as the cost burden of rebuilding the entire complex has increased, and profitability has declined due to the downturn in the housing market and rising cost rates. According to the industry sources, GS E&C's growing debt and deteriorating financial strength are weighing on its creditworthiness. Korea Ratings recently downgraded GS E&C's unsecured bond rating to 'A/stable' from 'A+/neg

• Lee Kap-soo 기자
• 2023-12-27 17:05