Moody's assigns Korea Aa3

Moody's Investors Service said it assigned a provisional Aa3 rating to the Government of Korea's announced global bond offering.

The outlook is stable.

The agency said it expects to remove the provisional status of the rating upon the closing of the proposed issuance and a review of its final terms.

Moody's said Korea's Aa3 sovereign issuer rating reflects its methodological assessment of four factors: "very high" economic and government financial strengths; "high" institutional strength; and "moderate" susceptibility to risks from financial, economic and political events.

The agency noted that Korea's economic fundamentals and policy framework have improved materially since the global financial crisis, as reflected in two, one-notch rating upgrades since April 2010.

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