Hanwha Solutions Sells Stake to U.S. Venture Investment Fund

*This content was translated by AI.

Following the raising of 300 billion won through the issuance of redeemable convertible preferred shares (RCPS), Hanwha Solutions has secured an additional approximately 125.5 billion won by selling its stake in a U.S. venture investment fund.

In this year's June regular credit rating review, Hanwha Solutions' credit ratings (with outlook) were maintained at 'AA-' and 'AA-(Negative)', respectively.

Since 2022, Hanwha Solutions has invested in the fund through its subsidiaries to proactively identify future technology trends such as energy transition, circular economy, and carbon utilization in the U.S., while securing business cooperation opportunities.

It is also reported that Hanwha Solutions plans to swiftly proceed with the 300 billion won investment asset securitization proposed during the correction process of its rights offering (paid-in capital increase).

Korea Credit Rating and NICE Credit Rating maintained Hanwha Solutions' credit ratings (with outlook) at 'AA-(Negative)' and 'AA-(Negative)', respectively, in this year's June regular credit rating review, reflecting efforts to improve financial structure including the rights offering (paid-in capital increase), as well as positive prospects for performance improvement centered on renewable energy businesses. This outcome differs from other companies in the petrochemical sector whose credit ratings and outlooks were downgraded amid expanding global uncertainty.

A Hanwha Solutions official, speaking to The Korea Economic Daily via telephone, said, "With the completion of the Cartersville plant, we have established a foundation for vertical integration of solar power in the U.S., and we expect stable performance trends to continue in the renewable energy sector."

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.