Fitch affirms Korea Gas

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

Its short-term foreign-currency issuer default rating and commercial-paper ratings also are affirmed at F1.

The outlook is positive.

Kogas is Korea's dominant gas importer with a 96% share and sole transporting and distributing company with ownership of the country's entire gas-related infrastructure, Fitch said.

The government maintains full control over the company's operations, the agency said.

The company's ratings are equalized with those of Korea and this reflects the strong legal, operational and strategic ties between Kogas and the Korean government, Fitch said.

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