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Moody's upgrades KLHC
Moody's Investors Service said it upgraded to A1 from A2 the foreign-currency issuer rating and senior unsecured bond rating of Korea Land and Housing Corp.
The action follows Moody's decision to upgrade South Korean government's long-term foreign-currency and local-currency ratings to A1 from A2, according to the agency.
The outlook is stable.
"As a government-related issuer, KLHC's rating incorporates a high level of government support in a stress situation," Chris Park, a Moody's vice president, said in a statement.
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