S&P rates Korea Hydro bonds A

Standard & Poor's said it assigned an A rating to Korea Hydro & Nuclear Power Co. Ltd.'s proposed senior unsecured bonds, which are to be drawn down from its $2 billion global medium-term note program.

The rating is subject to final documents.

The rating is equalized with the ratings on Korea Electric Power Corp., which fully owns Korea Hydro.

The rating reflects its solid cash flow backed by its cost competitiveness and strong regulatory support for nuclear power generation, S&P said.

Constraining factors include large capital investments, construction risk related to capacity additions and environmental and safety risks associated with nuclear power generation, the agency said.

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