S&P gives Korea National Oil bonds A

Standard & Poor's said it assigned its A foreign currency ratings to three proposed senior unsecured samurai bonds issued by Korea National Oil Corp.'s (foreign currency rating A/stable; local currency rating A+/stable).

The bonds are:

• ¥10 billion of three-year senior unsecured samurai bonds due 2013;

• ¥10 billion of five-year senior unsecured samurai bonds due 2015; and

• ¥10 billion of 10-year senior unsecured samurai bonds due 2020.

According to the agency, the ratings on the company are equalized with the long-term ratings on the Republic of Korea (foreign currency rating A/stable/A-1; local currency rating A+/stable/A-1).

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