Fitch rates Korea Land A

Fitch Ratings said it assigned Korea Land Corp. a long-term foreign-currency issuer default rating of A.

The outlook is stable.

The rating reflects Korea Land's close relationship with the Korean government and the company's strong stand-alone credit metrics.

Fitch noted, however, that while the company enjoys explicit and implicit government support, there is no legal or statutory requirement for the government to directly support the company or its creditors financially in the event of default or financial distress.

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