S&P: Doosan Infracore bonds AA

S&P said it assigned an AA rating to proposed senior unsecured bonds by Doosan Infracore Co. Ltd.

The issuance is guaranteed by Korea Development Bank.

The equalization of the issue rating with the rating on Korea Development Bank reflects a view that the guarantee is irrevocable and unconditional, S&P said.

This guarantee is viewed for timely payment, the agency said, and therefore the issuance qualifies for rating substitution treatment.

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