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S&P rates Korea Housing bonds AAA
S&P said it assigned an AAA rating to Korea Housing Finance Corp.’s €500 million of fixed-rate, five-year covered bonds. S&P rates Korea Housing AA.
“From our analysis of the covered bonds issued by KHFC, we have concluded that the assets in the cover pool are appropriately isolated from the risk of KHFC insolvency. This asset isolation allows us to potentially assign a higher rating to the covered bonds than our long-term issuer credit rating (ICR) on KHFC,” S&P said in a press release.
The outlook is stable.
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