Moody’s gives Korea East-West bonds Aa2

Moody's Investors Service said it assigned an Aa2 rating to the proposed senior unsecured dollar-denominated bonds to be issued by Korea East-West Power Co., Ltd. (EWP, Aa2 stable).

The outlook is stable.

Proceeds will be used for the financing and/or refinancing of new or existing projects associated with renewable energy and small- and medium-sized enterprises and supporting underprivileged target groups.

"The Aa2 rating reflects EWP's close operational and financial relationships with its parent, Korea Electric Power Corporation, as well as its strategic importance to Korea's economy," Moody's vice president and senior credit officer Mic Kang said in a news release.

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