Fitch affirms Korea Electric

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

The outlook is stable.

The ratings reflect the company's monopolistic position in the electric utility sector in Korea and its sustained steady improvement in its credit metrics, Fitch said.

Credit concerns are associated with the exposure to fluctuations in fuel prices and to movement in foreign exchange as Korea Electric's imports substantially all of its fuel requirements, the agency added.

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