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SOUTH KOREAN CREDITORS TO SELECT LARGE FIRMS FOR RESTRUCTURING.
SEOUL, June 8 Asia Pulse - Local creditors may order 30 large South Korean conglomerates to push forward restructuring efforts next week, following detailed risk assessment reviews, financial sources said Sunday.
The sources said that assessments conducted on 434 large companies with outstanding credit grants exceeding 50 billion won (US$40 million) showed close to 10 percent experiencing serious trouble.
"State regulators have called on banks to ferret out all troubled companies that could speed up market-wide restructuring processes," a representative from a local bank said.
He added that authorities had actually rechecked 95 companies in the shipbuilding and construction sectors that got an earlier positive "B" rating in January to ensure a thorough review this time around.
Without going into details, creditors said an announcement on companies that received either "C" or "D" ratings could be made public by Friday, although the date may ...
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Source: HighBeam Research, SOUTH KOREAN CREDITORS TO SELECT LARGE FIRMS FOR RESTRUCTURING.