POSCO E&C faces credit rating downgrade risk after fatal accidents

A series of worker fatalities this year has heightened reputational risks for POSCO E&C, sparking concerns over its credit rating and its ability to secure funding, industry officials said Sunday. Two of Korea's three major credit agencies have issued reports as of Sunday expressing concern over the company’s credit standing. The warnings follow a series of serious industrial accidents at POSCO E&C worksites this year, in which four workers were killed and one was critically injured. The latest occurred on Aug. 4, when a worker lost consciousness from electrocution while on the job. The Ministry of Land, Infrastructure and Transport has launched a full-scale probe of the company's construction sites after President Lee Jae Myung called for a thorough investigation and the identification of all legally permissible punitive measures, including revoking the company's construction license. Korea Investors Service wrote that sustained negative perceptions of the brand’s credibility could ultimately erode its fundamental business strength if combined with potential disruptions to new contrWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times