Hyundai Heavy’s Earnings Shock May Lead to Major Rating Downgrade of All Shipbuilders

SEOUL, Aug. 8 (Korea Bizwire) – Across-the-board downgrading of the credit ratings of Korean shipbuilders is likely. Since the 2008 global financial crisis, major Korean shipbuilding firms have invested heavily in offshore plants and took on a huge amount of orders in FPSO (floating production storage and offloading) and other related areas as a way to overcome [...]