Fitch affirms Korea Expressway

Fitch Ratings said it affirmed Korea Expressway Corp.'s long-term foreign-currency issuer default rating and long-term foreign-currency senior unsecured rating at A+.

The outlook is stable.

The ratings reflect the company's status as a near 100%-owned state-owned enterprise, with a major strategic role in the construction and operation of Korea's expressway network, Fitch said.

The Korea Expressway Corporation Act (1969) allows the government to guarantee the company's debt, although it has never had to do so, the agency said.

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