Moody’s assigns Korea Land notes Aa2

Moody’s Investors Service said it assigned an Aa2 rating to the proposed senior unsecured dollar-denominated notes to be issued by Korea Land and Housing Corp. The notes will be issued under its $5 billion global medium-term note program, rated (P)Aa2.

“The Aa2 rating primarily reflects our assessment of the very high likelihood of extraordinary support from and KLHC’s very high dependence on the government of Korea,” said Wan Hee Yoo, a Moody’s vice president and senior credit officer, in a press release.

KLHC plans to use the proceeds to finance or refinance projects in eligible social categories following its social, green and sustainability bond framework, which mainly includes affordable housing.

The outlook on KLHC remains stable.

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