여천NCC, 신용등급 BBB+로 하향…업황 부진 발목

Yeochen NCC's credit downgrade from A- to BBB+ carries systemic risk beyond rating deterioration—the new rating triggers forced redemption clauses in certain private bonds, converting a creditworthiness issue into an immediate liquidity pressure. This reflects chronic petrochemical industry oversupply rather than cyclical weakness, signaling structural profitability challenges that cyclical recovery alone cannot resolve.