On Monday, June 22, 2026, South Korean company Hanwha Aerospace (part of the Hanwha Group) announced that it has received its first long-term global credit rating of A- with a stable outlook from S&P Global Ratings, placing it at the same investment grade level as the world’s largest defense companies and enabling it to raise funds directly on international debt markets.
Photo: Hanwha Aerospace
S&P Global Ratings cited the global growth potential of platforms such as the K9 Thunder self-propelled howitzer and Chunmoo multiple rocket launcher, the company’s growing exports in Europe and the Middle East, and a record order backlog of approximately 37 trillion KRW at the end of 2025 as the basis for the rating, which is expected to support stable revenue growth and improved profitability in the coming years.
S&P expects the aforementioned key Hanwha Aerospace platforms to benefit from growth in the global defense market. The agency also cited the company’s growing weapons exports and its ability to deliver rapidly as key strengths.
The company’s position was reinforced by a record year. In 2025, Hanwha Aerospace recorded consolidated revenues of 26.7 trillion KRW and operating profit of 3.09 trillion KRW, its highest ever annual results, driven by growth in the defense sector and the consolidation of shipbuilding operations under Hanwha Ocean.
Hanwha Aerospace plans to leverage the rating to strengthen international investor confidence and support financing and cash flow management as it expands in the global defense market.
“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,” noted Kim Cheol-hong, Chief Financial Officer, Hanwha Aerospace
Press release