Moody's lifts Korea Housing covered bonds

Moody's Investors Service said it upgraded to Aa1 from Aa2 the ratings of two covered bonds issued by Korea Housing Finance Corp.

The bonds consist of the company's $500 million 4 1/8% covered bonds due 2015 and its $500 million 3½% covered bonds due 2016.

The cover pools have a low average loan-to-value ratio of about 50%, Moody's said, and an over 90-day delinquency rate of below 0.6%.

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