Moody's rates Kexim bond Aa3

Moody's Investors Service said it assigned an Aa3 rating to The Export-Import Bank of Korea's proposed benchmark-size senior unsecured global bond offering off the U.S. Securities and Exchange Commission-registered shelf program.

The outlook is stable.

The rating is subject to receipt of final documentation, the terms and conditions of which have not changed in any material way from the draft documents reviewed.

The ratings reflect the high level of government support, underpinned by the stipulation in the Kexim Act holding the government responsible for its solvency, its close affiliation with the government as a policy bank and its important policy role in supporting the Korean export sector, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.