Fitch lifts Korea Electric debt to A+

Fitch Ratings said it upgraded Korea Electric Power Corp.'s senior unsecured debt rating to A+ from A, affirmed its long-term foreign-currency issuer default rating at A, short-term rating at F1 and guaranteed notes at A+.

The outlook is stable.

The ratings continue to reflect the company's monopolistic position in the electric utility sector in South Korea, balanced generation fuel mix comprising nuclear, coal, liquefied natural gas and petroleum, as well as a robust financial profile, Fitch said.

Credit concerns continue to relate to the fuel price risk, the foreign-exchange risk and the lack of transparency and predictability of the tariff-setting mechanism, the agency said.

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