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S&P gives Korea Housing bond AAA
S&P said it assigned its preliminary AAA rating to the covered bonds to be issued by Korea Housing Finance Corp. The outlook is stable.
The amount is to be determined, but the euro-denominated bond will be fixed-rate and have a five-year maturity with a hard bullet principal repayment profile.
“From our analysis of the covered bonds to be 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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