Moody's ups Korea Rail

Moody's Investors Service said it upgraded to A1 from A2 the foreign-currency issuer rating of Korea Rail Network Authority.

The upgrade follows a decision to upgrade South Korean government's long-term foreign-currency and local-currency ratings to A1 from A2.

The outlook is stable, consistent with the outlook on the government ratings.

As a government-related issuer, the company's rating incorporate a high level of government support in a stress situation, Moody's said.

The ratings also reflect its close integration with the government as it is responsible for executing government policy on the nation's railroad infrastructure and is engaged in the construction and upgrade of the nation's railroads.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.