S&P rates Korea Hydro notes A

Standard & Poor's said it assigned an A rating to Korea Hydro & Nuclear Power Co. Ltd.'s proposed issue of dollar-denominated senior unsecured notes.

The proceeds will be used for general corporate purposes.

The rating is equalized with that on Korea Electric Power Corp., which fully owns Korea Hydro, S&P said.

The rating also reflects its solid cash flow, backed by cost competitiveness and strong regulatory support for nuclear power generation, the agency said.

Constraining factors include a lack of transparency in the price-setting system for electricity and Korea Hydro's large capital investment needs, S&P said.

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