S&P rates Komipo notes AA

S&P said it assigned an AA long-term issue rating to the proposed $300 million senior unsecured notes issued by Korea Midland Power Co. Ltd. (Komipo).

The notes will be drawn from Komipo's updated $3 billion euro medium-term note program, which also has an AA rating, the agency said.

The proceeds will be used for green bond projects, such as renewable energy, S&P noted.

Komipo is viewed as a core subsidiary of Korea Electric Power Corp. (Kepco), so the ratings are equalized, the agency said.

Komipo's power generation is integral to Kepco's role of providing a stable supply of electricity in Korea, S&P said.

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