Moody's assigns Korea Hydro notes Aa2

Moody's Investors Service said it assigned an Aa2 rating to the proposed senior unsecured dollar-denominated bonds to be issued by Korea Hydro & Nuclear Power Co., Ltd. The bonds will be issued under its $5 billion global medium-term note program, rated (P)Aa2.

"The Aa2 rating reflects KHNP's close operational and financial links with its parent, Korea Electric Power Corp., and the company's strategic importance to Korea's economy as a major power generator," said Mic Kang, a Moody's vice president and senior credit officer, in a press release.

KHNP plans to use the proceeds for debt refinancing or general corporate purposes.

The outlook is stable.

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