S&P affirms Korea Electric

Standard & Poor's said it affirmed its A long-term and A-1 short-term corporate credit ratings on Korea Electric Power Corp. and its A long-term ratings on Korea Hydro & Nuclear Power Co. Ltd., Korea East-West Power Co. Ltd., Korea Midland Power Co. Ltd., Korea South East Power Co. Ltd., Korea Southern Power Co. Ltd., and Korea Western Power Co. Ltd.

At the same time, the agency said it revised the stand-alone credit profile on Kepco and its six subsidiaries to bbb from a-. The outlook on all the companies is stable.

S&P said its affirmation of the ratings on Kepco reflect its view that there is an extremely high likelihood that the government of the Republic of Korea would provide Kepco with timely and sufficient extraordinary support in times of financial distress.

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