Moody's lifts Korea Resources

Moody's Investors Service said it upgraded to A1 from A2 the issuer rating of Korea Resources 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 incorporate a high level of government support in a stress situation, Moody's said.

The company is closely related to the government's financial strength in view of its distinct policy role and high operational integration with the government, the agency said.

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