As the unrivalled market leader among Korea’s three mobile communication service providers, SK Telecom boasts solid financials that have earned it credit ratings from the internationally renowned agencies S&P, Fitch and Moody’s that are on par with those assigned to government entities.

Credit ratings assigned to corporate bonds are classified into 10 levels ranging from AAA, the top rating, to D, the lowest credit quality. Credit ratings from AAA to BBB are “investment grade,” as such bonds offer a high capacity for repayment of interest and principal. Ratings from BB to C are “speculative” in that changes in the financial environment of companies issuing such bonds can greatly affect their capacity for repayment.

Description	Moody's 21 Ratings	S&P/Fitch 22 Ratings
Eligible Investment Rating	Aaa	AAA	Highest quality with minimum risk levels only slightly higher than U.S. Treasury debt instruments.
	Aa1 Aa2 Aa3	AA+ AA AA-	Exceptional quality, with low risk only minor effect from changes in economic environment.
	A1 A2 A3	A+ A A-	Adequate quality, with a small increase in risk levels due to economic downturn.
	Baa1 Baa2 Baa3	BBB+ BBB BBB-	Below-average quality for investment-grade, with risk levels likely to be affected by changes in economic circumstances.
Ineligible Investment Rating	Ba1 Ba2 Ba3	BB+ BB BB-	Ineligible for investment-grade rating, though repayment of principal and interest is possible. Credit quality is affected by changes in the relevant industry and prospects of the company. High possibility of ratings downgrade or upgrade.
	B1 B2 B3	B+ B B-	Below-investment grade credit quality, with doubtful repayment capacity. Quality is greatly affected by economic, industry-wide and company-specific changes. Likelihood of ratings adjustment is high.
	Caa1 Caa2 Caa3 Ca C	CCC+ CCC CCC- CC C	Well below investment-grade quality. Little possibility of recovery of principal or interest. Default is likely or imminent.
	-	D	Default.