Seoul: AM Best has revised the outlook for the Long-Term Issuer Credit Rating (Long-Term ICR) of Korea P and I Club (KP and I or the Club) from stable to negative, while affirming the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of ‘bbb+’ (Good). The outlook for the FSR remains stable.
According to BERNAMA News Agency, the Credit Ratings reflect KP and I’s strong balance sheet strength, adequate operating performance, limited business profile, and appropriate enterprise risk management. Additionally, the ratings are bolstered by the support the Club receives from the South Korean government.