S.Korea top firms' debt ratios at 6-yr high in 2008

Newswire

SEOUL, April 29 (Reuters) - The average debt-to-equity ratio for top South Korean business groups jumped to its highest in six years in 2008, data showed on Wednesday, ahead of creditor banks' release next month of a month-long assessment of big companies. Heavy borrowing, liabilities related to derivatives products and translation losses on foreign debt contributed to the sharp rise in debt, while cash assets increased by 29 percent, the Fair Trade Commission said in a statement. The ...

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