Report
EUR 188.06 For Business Accounts Only

S-OIL Corporation: Weak first-quarter results are credit negative; rating unaffected

Sizable inventory-related losses and weak refining margins led to a significant operating loss in first quarter 2020. Earnings should rebound in second-half 2020 and 2021.
Underlying
S-Oil Corporation

S-Oil is engaged in the producing and marketing petroleum products, gas, lube base oils, lubricants, grease, petrochemical products and other related products; import and export of crude oil, petroleum products, gas, lube base oils, lubricants, grease, petrochemical products; and development, exploration and disposition of crude oil, gas and other energy resources. .

Provider
Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

  • 130 countries
    11,000 corporate issuers
    21,000 public finance issuers
    76,000 structured finance obligations



Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.



Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions. 

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