S&P: Korea Finance bonds A+

Standard & Poor's said it assigned an A+ senior unsecured long-term foreign-currency rating to Korea Finance Corp.'s shelf drawdown of proposed benchmark global dollar-denominated senior unsecured bonds.

The proceeds will be used for general corporate purposes.

The bonds will constitute direct, unconditional, unsecured and unsubordinated obligations of Korea Finance, S&P said, and will rank pari passu with all other unsecured and unsubordinated obligations of Korea Finance.

The ratings are equalized with the ratings on Korea, reflecting an almost certain likelihood that the Korean government would provide timely and sufficient extraordinary support in the event of financial distress, the agency said.

This is based on Korea Finance's critical role as a primary public financial institution specialized in public policy financial intermediation and integral link with its sole owner, the Korean government, S&P said.

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