SEOUL, Oct 17: The US rating agency Standard & Poor has downgraded the credit rating of South Korean electronic giant Samsung Electronics from stable to negative.The rating agency attributed the downward adjustment to the uncertainty of the world dynamic random access memory (DRAM) market in which Samsung focussed on its business strategy.But the agency maintained the current double minus rating of the company, reflecting Samsung's leading role in the world DRAM market and company's improved price competitiveness due to the weakened Korean won.
The US rating agency noted that Samsung's sales and net profit in the first half of the year rose to 21 per cent from 18 per cent and its turnover to 10.5 trillion won from 150 billion won.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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