Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Korea Highway Corp. > News item |
Moody's rates Korea Highway note A3
Moody's Investors Services said it assigned an A3 rating to Korea Highway Corp.'s proposed senior unsecured 10-year €400 million notes, the proceeds of which will be used primarily for general corporate purposes.
The outlook is positive, reflecting Moody's positive outlook for South Korea's foreign- and local-currency ratings.
The rating reflects the A3 domestic currency rating of the South Korean government; Korea Highway's high dependence on the government due to its funding structure, which relies heavily on the government's capital contributions; and the high level of support Korea Highway receives from the government due to the economic importance of the national expressway network, the status of the company as a wholly owned government entity eligible for official funding and its policy-implementation role, which translate into a high incentive for the government to provide support, if necessary.
The government materially controls all of the company's share ownership through the Ministry of Construction and Transportation and Ministry of Finance and Economy.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.