Moody's boosts Korea Railroad

Moody's Investors Service said it upgraded to A1 from A2 the foreign-currency issuer rating and senior unsecured bond rating of Korea Railroad Corp.

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 incorporates a high level of government support in a stress situation, Moody's said.

The rating also reflects its close integration with the government as the national body responsible for executing railway policy, the agency said.

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