Moody's gives Korea Hydro notes A1

Moody's Investors Services said it assigned an A1 rating to Korea Hydro & Nuclear Power Co. Ltd.'s proposed drawdown under its $2 billion global medium-term note program.

The outlook is stable.

The proposed issuance will be used for general corporate purposes, Moody's said.

The rating reflects the company's strategic importance as the only Korean nuclear power generation company, strong financial profile despite a large capital expenditure requirement and a supportive regulatory environment, the agency said.

The company has unfunded liabilities arising from the decommissioning costs for its nuclear power facilities, Moody's said. It is also exposed to execution risk with regard to its large construction program and inherent risks associated with operating nuclear power plants, the agency added.

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