Fitch rates Korea National Oil bonds AA-

Fitch Ratings said it has assigned Korea National Oil Corp.'s (AA-/stable) $250 million tap of its 2019 senior unsecured bonds and $550 million issue of 2024 senior unsecured bonds final ratings of AA-.

The bonds were issued under the company's global medium-term note program, which is also rated AA-.

The company will use the net proceeds from the bonds to refinance existing debt and for general corporate purposes, Fitch said.

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