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S&P lifts Kogas stand-alone rating to BBB
S&P said it affirmed the AA- long-term corporate credit ratings and A-1+ short-term rating on Korea Gas Corp. (Kogas).
The agency also said it affirmed the AA- foreign-currency issue ratings on the company and revised its stand-alone credit profile to BBB from BBB-.
The outlook is stable.
The revision of the stand-alone rating reflects a view that Korea's gas tariff regime has improved transparency, predictability and consistency since 2013, S&P explained.
Under the revised regime, the company can fully and in a timely way recover all of its fixed- and variable-operating costs, the agency said.
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