S&P Upgrades Samsung Electronics' Credit Outlook on Strong EBITDA Growth

According to S&P, on July 21, Samsung Electronics' credit rating outlook was upgraded from stable to positive, supported by structural AI industry growth and long-term supply contracts (LTA). The company's long-term issuer and senior unsecured bond ratings remain at AA-, while short-term rating stays at A-1+.

S&P projects Samsung's EBITDA will surge from 91 trillion Korean won in 2025 to 393 trillion won in 2026 and approximately 502 trillion won in 2027. Annual revenue is forecast at 683 trillion won for 2026 and about 821 trillion won for 2027. S&P cited expected robust operating performance over the next two years, driven by HBM (high-bandwidth memory) market expansion and improved foundry competitiveness amid persistent memory supply shortages.