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S&P rates Korea Land notes AA
S&P said it assigned its AA long-term issue rating to the CHF 200 million senior unsecured notes due 2025 issued by Korea Land and Housing Corp., which S&P rates AA.
“We equalize the long-term issuer credit rating and outlook on LH with those on the government of South Korea (AA/Stable/A-1+). The equalization mainly reflects our view that there is an almost certain likelihood that the government will provide LH with timely and sufficient extraordinary support if the company were to experience financial distress,” S&P said in a press release.
The company plans to use the proceeds for general corporate purposes, including affordable housing projects.
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