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Fitch affirms Korea Electric
Fitch Ratings said it affirmed Korea Electric Power Corp. and six generation companies.
The outlook is stable.
Korea Electric Power's long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating and guaranteed notes at A+ and short-term foreign-currency issuer default rating at F1.
Korea Hydro & Nuclear Power Co., Ltd.'s long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating at A+ and short-term foreign-currency issuer default rating at F1.
Korea East-West Power Co., Ltd.'s long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating at A+ and short-term foreign-currency issuer default rating at F1.
Korea Midland Power Co., Ltd.'s long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating at A+ and short-term foreign-currency issuer default rating at F1.
Korea South-East Power Co., Ltd.'s long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating at A+ and short-term foreign-currency issuer default rating at F1.
Korea Southern Power Co., Ltd.'s long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating at A+ and short-term foreign-currency issuer default rating at F1.
Korea Western Power Co., Ltd.'s long-term foreign-currency issuer default rating was affirmed at A+, foreign-currency senior unsecured rating at A+ and short-term foreign-currency issuer default rating at F1.
The ratings reflect the company's status as a key state-owned enterprise, Fitch said, and its monopolistic position in the electricity transmission and distribution business.
The government maintains full control over the management and operations of the group, with almost all aspects of its activities governed by laws, the agency said.
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