Samsung Heavy Industries has had its long-term credit rating cut by Nice Investors Service.
The Korean ratings agency dropped the Seoul-listed shipbuilder from A- to BBB+ and has the yard on review for further downgrades.
It explained the revision comes amid concerns about future losses and intense competition at a time of unfavorable market conditions, Bloomberg reports.
The downgrade was announced just a couple of days after Samsung announced plans for a $1.4bn
