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Moody's assigns Korea Expressway notes Aa2
Moody's Investors Service said it assigned an Aa2 rating to the proposed senior unsecured Australian dollar-denominated notes to be sold by Korea Expressway Corp. Moody’s rates the company Aa2.
"The Aa2 rating primarily reflects our assessment of a very high likelihood of extraordinary support from the Korean government because of KEC's mandated policy role and strategic importance, and the government's low tolerance for reputational and contagion risks that would result from a default," said Mic Kang, a Moody's vice president and senior credit officer, in a press release.
The outlook is stable.
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