Moody’s gives Aa2 to Korean Air notes

Moody’s Investors Service said it gave an Aa2 rating to Korean Air Lines Co. Ltd.’s planned U.S. dollar senior unsecured notes. The notes will be guaranteed by the Korea Development Bank, which the agency rates Aa2.

“The Aa2 rating of the notes reflects KDB's Aa2(cr) long-term counterparty risk (CR) assessment, because KDB provides an unconditional and irrevocable guarantee for the notes,” Moody’s said in a press release.

Korean Air will use the proceeds for general corporate purposes, including debt repayment

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