Moody's rates Kexim bond Aa3

Moody's Investors Service said it assigned an Aa3 rating to The Export-Import Bank of Korea's ¥35 billion fixed-rate fifth series (2007) bond issuance due 2012. This rating is subject to receipt of final documents.

The outlook is stable.

The high level of support incorporated in the rating is underpinned by a stipulation holding the government responsible for the bank's solvency, its close affiliation with the Korean government as a government-controlled policy bank and its important policy role in supporting the Korean export sector.

Its ratings also incorporate the high probability that the bank will maintain this strategic importance going forward, given the importance of the export sector in Korean economy, Moody's said.

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