The Construction Guarantee Association announced on the 10th that global credit rating agency Fitch has upgraded its insurance financial strength (IFS) rating from 'A' to 'A+'. With this, the Construction Guarantee Association has become the first among domestic construction-related guarantee associations to achieve an A+ rating.
The Construction Guarantee Association achieved record results last year (153.5 billion won). It also received high marks for its stable financial structure, with a risk-based capital ratio (the ratio of available risk assets to equity) exceeding the government's supervisory standard (100%) at 485%.