Fitch: Kexim notes AA-(emr)

Fitch Ratings said it assigned an AA-(emr) rating to the Export-Import Bank of Korea's (Kexim) dual-range accrual notes under its euro medium-term note program.

The notes are fully principal-protected and the tenor on the notes is 15 years. The bank has an option to redeem the whole outstanding notes at par from three years after the issuance date on each interest payment dates, Fitch said.

The rating on the notes is aligned with Kexim’s long-term issuer default rating as they represent unsecured and unsubordinated obligations of the bank, the agency said.

Any change in Kexim’s long-term issuer default rating will be reflected in the rating on the notes, Fitch 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.