Moody’s Local CL Compañía Clasificadora de Riesgo Limitada upgraded Sigdo Koppers S.A.’s issuer and bond ratings from AA- to AA, reflecting the stronger operating and financial performance of its main subsidiary, Enaex, in a context of controlled investment levels across the Group. The rating also considers that no funding requirements are expected from the subsidiaries to the holding company as a result of operational weakness, nor from shareholders, allowing SK to maintain its low financial risk on a standalone basis. The outlook was affirmed as Stable.

Sigdo Koppers S.A.’s issuer rating takes into account the business risk profile of its main subsidiaries, its conservative financial policy, and the structural subordination of SK on a standalone basis, as the parent company’s debt is subordinated to the payment of obligations at the subsidiary level, as is the case with many holding companies. The equity rating under the new methodology for non-financial companies, meanwhile, is based on the company’s earnings-generating capacity — associated with the issuer’s credit rating — and the liquidity of its shares, measured by their average market presence over the previous six months. The combination of these factors led the shares traded under the ticker SK to be upgraded in March 2026 from First Class Level 2 to First Class Level 1, a rating that has now been affirmed.

More information: https://moodyslocal.cl/wp-content/uploads/2026/04/ML-CL-PR-Sigdo-Koppers-S.A.pdf