S&P rates Korea Hydro bonds A

Standard & Poor's said it assigned its A long-term debt rating to Korea Hydro & Nuclear Power Co. Ltd.'s proposed 10-year senior unsecured bonds.

The agency equalized the long-term corporate credit rating on the company with the rating on Korea Electric Power Corp., which wholly owns Korea Hydro & Nuclear Power.

S&P said the rating equalization reflects its opinion that the company's creditworthiness, as well as that of Korea's five other electric power generating companies, correlates highly with that of Korea Electric for the most part, through integration of their businesses, a rate-setting mechanism and Korea Electric's 100% ownership of Korea Hydro.

The agency assesses the stand-alone credit profile for Korea Hydro to be bbb. The stable outlook on reflects the outlook on the parent because the agency has equalized the ratings with those on the parent company.

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