SK REIT obtained Korea’s highest rating, AA-,
though prime-level asset competitiveness located in key regions, synergy growth with major
affiliates of SK Group, and the highly evaluated lease quality of triple-net master-lease
agreements.
| Evaluation Date | Evaluation Target | Credit Rating | Evaluating Agency |
|---|---|---|---|
| June 25, 2025 | Corporate Credit Ratings | AA- | Korea Ratings Corporation |
| September 27, 2023 | Corporate Credit Ratings | AA- | NICE Investors Service |
| February 28, 2023 | Corporate Credit Ratings | AA- | NICE Investors Service |
| June 21, 2022 | Corporate Credit Ratings | AA- | NICE Investors Service |
| March 10, 2022 | Corporate Credit Ratings | AA- | NICE Investors Service |
NICE Investors Service
| Type | Local Credit Ratings | Definition |
|---|---|---|
| Issuer Credit Rating |
AAA | Capacity for payment of financial commitments is exceptionally strong, and highly unlikely to be adversely affected by foreseeable changes in circumstances. |
| AA | Capacity for payment of financial commitments is very strong, but somewhat less than AAA. | |
| A | Capacity for payment of financial commitments is strong, but somewhat vulnerable to adverse economic conditions or changes in circumstances. | |
| BBB | Capacity for payment of financial commitments is adequate, but more likely to be impaired by adverse economic conditions or changes in circumstances. | |
| BB | Capacity for payment of financial commitments may be moderate, but has speculative characteristics. | |
| B | Capacity for payment of financial commitments is weak and speculative, and its future stability is uncertain. | |
| CCC | Capacity for payment of financial commitments is subject to default risk, and as such possesses highly speculative characteristics. | |
| CC | Capacity for payment of financial commitments contains high possibility of default, and is more vulnerable to adverse economic conditions or changing circumstances than higher ratings. | |
| C | Capacity for payment of financial commitments contains extremely high possibility of default, with little chance of recovery. | |
| D | Payment default on financial commitments. | |
| * The ratings from AA to CCC may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the major rating categories. | ||
Korea Ratings
| Type | Local Credit Ratings | Definition |
|---|---|---|
| Issuer Credit Rating |
AAA | Capacity for payment of financial commitments is exceptionally strong, and is so stable that it is unlikely to be affected by foreseeable future changes in circumstances. |
| AA | Capacity for payment of short-term financial commitments is strong, but is more likely to be affected future changes in circumstances than the higher rating. | |
| A | Capacity for payment of financial commitments is strong, but is more likely to be affected by future changes in circumstances than the higher ratings. | |
| BBB | Capacity for payment of financial commitments is adequate, but it may be weakened depending on future changes in circumstances. | |
| BB | Minimum capacity for payment of financial commitments is recognized, but there are speculative characteristics in terms of future stability. | |
| B | Capacity for payment of financial commitments is insufficient, and is highly speculative due to potential changes to stability. | |
| CCC | There is high likelihood of default. | |
| CC | There is very high likelihood of default. | |
| C | There is extremely high likelihood of default, and occurrence of default is inevitable within the reasonable range of prediction. | |
| D | In default at present. | |
| * The ratings from 'AA' to 'B' may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the major rating categories. | ||
| Evaluation Date | Evaluation Target | Credit Rating | Evaluating Agency |
|---|---|---|---|
| May 7, 2025 | 7th Corporate Bond | AA- | NICE Investors Service |
| April 30, 2025 | 7th Corporate Bond | AA- | Korea Ratings Corporation |
| February 7, 2025 | 6th Corporate Bond | AA- | NICE Investors Service |
| February 7, 2025 | 6th Corporate Bond | AA- | Korea Ratings Corporation |
| September 19, 2024 | 5th Corporate Bond | AA- | NICE Investors Service |
| September 19, 2024 | 5th Corporate Bond | AA- | Korea Ratings Corporation |
| May 3, 2024 | 4th Corporate Bond | AA- | NICE Investors Service |
| April 30, 2024 | 4th Corporate Bond | AA- | Korea Ratings Corporation |
| January 26, 2024 | 2nd Corporate Bond | AA- | Korea Ratings Corporation |
| January 22, 2024 | 2nd Corporate Bond | AA- | NICE Investors Service |
| September 27, 2023 | 1st Corporate Bond | AA- | NICE Investors Service |
| September 23, 2022 | 1st Corporate Bond | AA- | Korea Ratings Corporation |
| September 23, 2022 | 1st Corporate Bond | AA- | NICE Investors Service |
| September 22, 2022 | 1st Corporate Bond | AA- | Korea Ratings Corporation |
NICE Investors Service
| Type | Local Credit Ratings | Definition |
|---|---|---|
| Long-term Rating |
AAA | Capacity for payment of financial commitments is exceptionally strong, and highly unlikely to be adversely affected by foreseeable changes in circumstances. |
| AA | Capacity for payment of financial commitments is very strong, but somewhat less than AAA. | |
| A | Capacity for payment of financial commitments is strong, but somewhat vulnerable to adverse economic conditions or changes in circumstances. | |
| BBB | Capacity for payment of financial commitments is adequate, but more likely to be impaired by adverse economic conditions or changes in circumstances. | |
| BB | Capacity for payment of financial commitments may be moderate, but has speculative characteristics. | |
| B | Capacity for payment of financial commitments is weak and speculative, and its future stability is uncertain. | |
| CCC | Capacity for payment of financial commitments is subject to default risk, and as such possesses highly speculative characteristics. | |
| CC | Capacity for payment of financial commitments contains high possibility of default, and is more vulnerable to adverse economic conditions or changing circumstances than higher ratings. | |
| C | Capacity for payment of financial commitments contains extremely high possibility of default, with little chance of recovery. | |
| D | Payment default on financial commitments. | |
| * The ratings from AA to CCC may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the major rating categories. | ||
Korea Ratings
| Type | Local Credit Ratings | Definition |
|---|---|---|
| Rating of Bonds |
AAA | Capacity for payment of financial commitments is exceptionally strong, and is so stable that it is unlikely to be affected by foreseeable future changes in circumstances. |
| AA | Capacity for payment of short-term financial commitments is strong, but is more likely to be affected future changes in circumstances than the higher rating. | |
| A | Capacity for payment of financial commitments is strong, but is more likely to be affected by future changes in circumstances than the higher ratings. | |
| BBB | Capacity for payment of financial commitments is adequate, but it may be weakened depending on future changes in circumstances. | |
| BB | Minimum capacity for payment of financial commitments is recognized, but there are speculative characteristics in terms of future stability. | |
| B | Capacity for payment of financial commitments is insufficient, and is highly speculative due to potential changes to stability. | |
| CCC | There is high likelihood of default. | |
| CC | There is very high likelihood of default. | |
| C | There is extremely high likelihood of default, and occurrence of default is inevitable within the reasonable range of prediction. | |
| D | In default at present. | |
| * The ratings from 'AA' to 'B' may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the major rating categories. | ||
| Evaluation Date | Evaluation Target | Credit Rating | Evaluating Agency |
|---|---|---|---|
| June 30, 2025 | Short Term Bond | A1 | NICE Investors Service |
| June 25, 2025 | Short Term Bond | A1 | Korea Ratings Corporation |
| March 31, 2025 | Short Term Bond | A1 | NICE Investors Service |
| March 28, 2025 | Short Term Bond | A1 | Korea Ratings Corporation |
| December 18, 2024 | Short Term Bond | A1 | NICE Investors Service |
| December 17, 2024 | Short Term Bond | A1 | Korea Ratings Corporation |
| September 23, 2024 | Short Term Bond | A1 | NICE Investors Service |
| September 19, 2024 | Short Term Bond | A1 | Korea Ratings Corporation |
| June 28, 2024 | Short Term Bond | A1 | NICE Investors Service |
| June 20, 2024 | Short Term Bond | A1 | Korea Ratings Corporation |
| March 29, 2024 | Short Term Bond | A1 | NICE Investors Service |
| March 29, 2024 | Short Term Bond | A1 | Korea Ratings Corporation |
| December 29, 2023 | Short Term Bond | A1 | NICE Investors Service |
| December 22, 2023 | Short Term Bond | A1 | Korea Ratings Corporation |
| September 27, 2023 | Short Term Bond | A1 | NICE Investors Service |
| September 27, 2023 | Short Term Bond | A1 | Korea Ratings Corporation |
| June 30, 2023 | Short Term Bond | A1 | NICE Investors Service |
| June 30, 2023 | Short Term Bond | A1 | NICE Investors Service |
| March 31, 2023 | Short Term Bond | A1 | NICE Investors Service |
| March 29, 2023 | Short Term Bond | A1 | Korea Ratings Corporation |
| March 7, 2023 | Short Term Bond | A1 | NICE Investors Service |
| March 3, 2023 | Short Term Bond | A1 | Korea Ratings Corporation |
| September 23, 2022 | Short Term Bond | A1 | NICE Investors Service |
| March 22, 2022 | Short Term Bond | A1 | Korea Ratings Corporation |
| June 21, 2022 | Short Term Bond | A1 | NICE Investors Service |
| June 3, 2022 | Short Term Bond | A1 | Korea Ratings Corporation |
NICE Investors Service
| Type | Local Credit Ratings | Definition |
|---|---|---|
| Short-term Rating | A1 | Capacity for payment of financial commitments is exceptionally strong, and highly unlikely to be adversely affected by foreseeable changes in circumstances. |
| A2 | Capacity for payment of financial commitments is strong, but somewhat less than A1. | |
| A3 | Capacity for payment of financial commitments is adequate, but somewhat vulnerable to adverse economic conditions or changes in circumstances. | |
| B | Capacity for payment of financial commitments may be moderate, but has speculative characteristics. | |
| C | Capacity for payment of financial commitments is doubtful. | |
| D | In default at present. | |
| * * The ratings from 'A2' to 'B' may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the major rating categories. | ||
Korea Ratings
| Type | Local Credit Ratings | Definition |
|---|---|---|
| Short-term Rating | A1 | Capacity for payment of short-term financial commitments is very strong, and is unlikely to be affected by foreseeable future changes in circumstances. |
| A2 | Capacity for payment of short-term financial commitments is strong, but is more likely to be affected future changes in circumstances than the higher rating. | |
| A3 | Capacity for payment of short-term financial commitments is adequate, but it may be weakened depending on future changes in circumstances. | |
| B | Minimum capacity for payment of short-term financial commitments is recognized, but is speculative due to potential changes to stability. | |
| C | Capacity for payment of short-term financial commitments is doubtful and the likelihood of default is high. | |
| D | Payment default on financial commitments. | |
| * The ratings from A2 to B may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the major rating categories. | ||