Moody's rates GS Caltex notes Baa1

Moody's Investors Service said it rated GS Caltex Corp.’s planned dollar-denominated senior unsecured notes.

"GS Caltex's underlying credit strength is underpinned by its strong market position as a major oil refiner in Korea, its diversification into the petrochemical and lubricant segments, and its healthy financial leverage," said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a press release.

GS Caltex plans to use the proceeds mainly for general corporate purposes.

The outlook is stable.

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