Fitch assigns Korea bonds AA-

Fitch Ratings said it assigned Korea's planned dollar- and euro-denominated bonds an AA- rating.

“The rating is in line with Korea's long-term foreign-currency issuer default rating (IDR) of AA- with a stable outlook,” the agency said in a press release.

The proceeds from the dollar-denominated bonds will become part of the sovereign's Foreign Exchange Stabilization Fund. The euro-denominated bond proceeds will become part of the Foreign Exchange Stabilization Fund and will be used, in whole or in part, for projects that fall under the eligible green asset categories, in accordance with the sovereign's green and sustainability bond framework.

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