Moody’s lifts Korea Electric, subsidiaries

Moody's Investors Service said it upgraded the issuer and senior unsecured ratings of Korea Electric Power Corp. (Kepco) and its six wholly owned power generation subsidiaries to Aa3 from A1.

The outlook on the ratings is stable.

The six subsidiaries are: Korea Hydro and Nuclear Power Co., Korea East-West Power Co., Korea Midland Power Co., Korea South-East Power Co., Korea Southern Power Co. and Korea Western Power Co.

"The rating upgrade reflects Kepco's improving operating performance and the Korean government's strengthened oversight of the company's financial health, as evidenced by its mid-to-long-term public institution financial management plans," Moody's vice president and senior analyst Mic Kang said in a news release.

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