S&P: Dongkuk Steel notes A-

Standard & Poor's said it assigned an A- rating to the $100 million guaranteed floating-rate senior unsecured bond issuance by Dongkuk Steel Mill Co. Ltd.

The issuance is guaranteed by Shinhan Bank, which also has A- ratings, S&P said.

The equalization of the issuance rating with the rating on Shinhan reflects a view that the guarantee is irrevocable and unconditional, the agency said.

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