Fitch assigns Korea Gas notes AA-

Fitch Ratings said it gave an AA- rating to Korea Gas Corp.'s planned dollar-denominated senior unsecured notes. The notes will be issued under the company's $11 billion global medium-term note program, which is also rated AA-.

“The proposed notes are rated at the same level as Kogas' senior unsecured rating as they represent its direct, unconditional, unsecured and unsubordinated obligations,” the agency said in a press release.

Kogas will use the proceeds to refinance debt and for general corporate purposes.

The outlook is stable.

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