Moody's assigns Lotte notes Aa3

Moody's Investors Service said it gave an Aa3 rating to the planned Japanese yen-denominated backed senior unsecured notes to be issued by Lotte Corp. and guaranteed by Aa3-rated Kookmin Bank.

“The Aa3 rating on the proposed notes reflects the Aa3(cr) long-term counterparty risk (CR) Assessment assigned to Kookmin Bank, because the bank provides an unconditional and irrevocable guarantee on the notes,” Moody’s said in a press release.

Lotte plans to use the proceeds to refinance its debt and for general corporate purposes.

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