Moody’s changes nine Korean GRIs to positive

Moody's Investors Service said it affirmed the Aa3 ratings and changed the outlook to positive from stable of the following nine Korean government related issuers:

• Korea Electric Power Corp.: Aa3 issuer and senior unsecured ratings;

• Korea Expressway Corp.: Aa3 senior unsecured rating;

• Korea Gas Corp.: Aa3 issuer and senior unsecured ratings;

• Korea Land and Housing Corp.: Aa3 issuer and senior unsecured ratings;

• Korea National Oil Corp.: Aa3 issuer and senior unsecured ratings;

• Korea Rail Network Authority: Aa3 issuer rating;

• Korea Railroad Corp.: Aa3 issuer and senior unsecured ratings;

• Korea Resources Corp.: Aa3 issuer and senior unsecured ratings; and

• Korea Water Resources Corp.: Aa3 issuer and senior unsecured ratings.

Moody's also affirmed the Aa3 senior unsecured bond rating and changed the ratings outlook of Minera y Metalurgica del Boleo, SAPI de CV to positive from stable. Its bonds are guaranteed by Korea Resources.

These rating actions follow Moody's April 10 decision to revise to positive from stable the outlook on the Korean government's Aa3 issuer and senior unsecured ratings.

At the same time, the agency affirmed Korea District Heating Corp.’s A1 issuer and senior unsecured rating with a stable outlook.

© 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.