Moody's ups Korea Electric Power outlook to positive

Moody's Investors Service said it changed to positive from stable the outlook on the A2 foreign-currency senior unsecured debt ratings of Korea Electric Power Corp. and subsidiaries, including Korea Midland Power Co. Ltd., Korea South-East Power Co. Ltd., Korea Western Power Co. Ltd., Korea Southern Power Co. Ltd. and Korea Hydro and Nuclear Power Co. Ltd. The agency also affirmed the companies' A1 local-currency issuer ratings with a stable outlook.

The rating action follows Moody's decision to change the outlook for South Korea's sovereign ratings to positive from stable and is based on Korea Electric Power's ownership by the government and the expectation that the government would provide support to the companies in times of need.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.