S&P gives Korea Mine, notes A

S&P said it gave A ratings to Korea Mine Rehabilitation and Mineral Resources Corp. (Komir) and its senior unsecured notes, which include $425 million of 3% medium-term notes series 4 due 2022.

Komir is the successor agency of Korea Resources Corp. The agency said it sees an extremely high likelihood the Korean government will help Komir, if necessary.

“Our assessment reflects Komir's role as Korea's sole mandated mineral resources policy arm, and the government's full ownership, ongoing strong financial support, and tight supervision and control. We also anticipate that the company will continue to have strong access to credit markets and benefit from low funding costs as a major government-related entity in Korea,” S&P said in a press release.

The outlook is stable.

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