Hanwha Aerospace earns ‘A-’ issuer credit rating from S&P Global Ratings
• Hanwha Aerospace has received its first global credit rating, an ‘A-‘ with a stable outlook from S&P Global Ratings, placing it in the same investment-grade tier as major global defense companies.
• S&P Global pointed to the global growth potential of platforms such as the K9 SPH and Chunmoo MRLS, the company’s expanding exports in Europe and the Middle East, and a record order backlog of approximately KRW 37 trillion as the basis for the rating.
Hanwha Aerospace
Hanwha Aerospace has been assigned a long-term issuer credit rating of “A-“ with a stable outlook by S&P Global Ratings. It is the company’s first global credit rating, placing it in the same investment-grade tier as major global defense companies and enabling it to raise funds directly in international debt markets.
S&P Global expects Hanwha Aerospace’s core platforms such as the K9 self-propelled howitzer and the Chunmoo multiple rocket launcher system to benefit from growth in the global defense market. The agency also cited the company’s expanding weapons exports, particularly in Europe and the Middle East, and its rapid delivery capability as key strengths.
S&P Global further noted Hanwha Aerospace’s important role in Korea’s national security and pointed to a record order backlog of approximately KRW 37 trillion as of the end of 2025, which is expected to support stable revenue growth and improving profitability in the years ahead.
Hanwha Aerospace’s standing was underpinned by a record year. In 2025, the company posted consolidated revenue of KRW 26.7 trillion and operating profit of KRW 3.09 trillion — its highest-ever annual results — driven by growth in defense and the consolidation of its shipbuilding business.
Hanwha Aerospace plans to use the rating to strengthen confidence among international investors and support its funding and cash-flow management as it grows in the global defense market.
Hanwha Aerospace Chief Financial Officer Kim Cheol-hong said, “This rating, on a level comparable to the world’s leading defense companies, will help secure trust in discussions with foreign governments and in local investment talks. Building on it, we will strengthen our global competitiveness across space and aviation as well as defense.”
About Hanwha Aerospace
Hanwha Aerospace is a leading provider of advanced defense, aerospace, and industrial solutions with a global footprint across Asia, Europe, the Middle East, and the Americas. Its portfolio covers land, sea, air, and space domains, including artillery systems, armored vehicles, precision-guided munitions, aircraft engines, satellites, and space launch technologies. As a core affiliate of Hanwha Group, Hanwha Aerospace is dedicated to strengthening global partnerships through localization, coproduction, and technology transfer.
For more information, visit: https://www.hanwhaaerospace.com
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