Moody's rates Korea Rail A3

Moody's Investors Service said it assigned an A3 senior unsecured issuer rating to the Korea Rail Network Authority. The outlook is stable.

Moody's said the A3 rating reflects Korea Rail's importance as the government arm responsible for the construction and development of both the high-speed and regular railway network in Korea.

The rating also reflects the government's track record of providing direct funding to Korea Rail and its predecessor, Korea High Speed Rail Construction Authority.

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