Moody's rates Korea Midland Power notes A1

Moody's Investors Service said it assigned an A1 senior unsecured foreign-currency rating to Korea Midland Power Co Ltd.'s proposed dollar-denominated notes. Moody's also affirmed its local-currency issuer rating at A1.

The outlook is stable.

The proceeds from the notes will be used for general corporate purposes, including capital expenditures.

The rating takes into account the company's sound financial profile, which is supported by sustainable growth in electricity demand and a supportive regulatory environment, Moody's said.

Moody's said it expects a low likelihood of there being material reform of the Korean power sector, including little risk that the company will be privatized in the short- to medium-term.

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