S&P rates Korea Land

Standard & Poor's said it assigned its long-term A local currency and A- foreign currency ratings to Korea Land Corp. The outlook is stable.

"The ratings on KLC reflect the expectation that the Korean government will assist the corporation with debt repayments when necessary, taking into account its critical land development role," said S&P credit analyst Kumiko Kakimoto.

Korea Land is 100% directly and indirectly owned by the Korean government and carries out housing and industrial development aimed at balancing orderly land development and maximum utilization of land resources. The corporation has recently taken on highly policy driven missions, such as plans to build a new administrative capital, free economic zones, and the Gaeseong Industrial Complex.

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