Fitch affirms Korea District Heating

Fitch Ratings said it affirmed Korea District Heating Corp.'s long-term foreign-currency issuer default rating at A, along with its senior unsecured rating at A.

The outlook is positive.

The ratings reflect its status as a state-owned enterprise, Fitch said, and its dominant position in the South Korean district-heating industry.

Although the government's ownership was diluted to 75% from previous 100% after the initial public offering in January 2010, the company's relationship with the government remains intact, the agency said.

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