Fitch rates Kexim notes A+

Fitch Ratings said it assigned a final rating of A+ to Export-Import Bank of Korea's (Kexim) Ps. 1.1 billion senior unsecured Mexican fixed-rate notes due Oct. 11, 2017. The final rating is same as the expected rating assigned April 23, Fitch said, and is the same as the bank's long-term foreign-currency issuer default rating of A+.

This action follows the re-opening of the Ps.800,000,000 and Ps.300,000,000 issues, the agency said.

The bank's long-term foreign currency issuer default rating is aligned with that of the Republic of Korea, reflecting the bank's quasi-sovereign status, Fitch said. Its activities support government economic objectives and do not compete with commercial banks, the agency said.

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