Moody’s: Kogas unaffected by investment

Moody's Investors Service said that Korea Gas Corp.’s (Kogas, Aa2 stable) credit quality will not be immediately affected by its decision to invest in the Area 4 Coral South floating liquefied natural gas project (unrated) in Mozambique (Caa3 negative).

"The investment is of a manageable size and is unlikely to signal an aggressive expansion by Kogas in exploration and production projects overseas," Moody's vice president and senior analyst Mic Kang said in a news release.

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