Moody’s rates Korea bond Aa2

Moody's Investors Service said it assigned Aa2 senior unsecured ratings to Korea's dual-tranche dollar-denominated bond offering with maturities in 2028 and 2048.

The ratings mirror Korea's issuer rating of Aa2 with a stable outlook, the agency said.

The bonds are direct, unconditional and unsecured obligations of Korea and will rank pari passu with all other senior unsecured debt obligations of the issuer.

Moody’s said Korea's rating reflects a large and diversified economy that will continue to demonstrate resilience to global shocks, sound public finances that are further enhanced by ongoing implementation of structural reforms, and the recent lowering of historical bilateral tensions with North Korea, although geopolitical risk remains elevated.

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