S&P rates Kexim notes A+

Standard & Poor's said it assigned an A+ rating to Export-Import Bank of Korea's (Kexim) shelf drawdown of proposed benchmark global dollar-denominated senior unsecured bonds.

Kexim intends to use the bond proceeds for the bank's general funding purposes, including repaying foreign-currency obligations and extending foreign-currency loans, S&P said.

The bonds will constitute direct, unconditional, unsecured and unsubordinated obligations of the bank, S&P said, and will rank pari passu with all other unsecured and unsubordinated obligations of the bank.

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