Moody's rates Korea Resources notes A1

Moody's Investors Service said it assigned an A1 senior unsecured rating to Korea Resources Corp.'s proposed dollar-denominated notes and affirmed its A1 issuer rating.

The outlook is stable.

The proceeds will be used for general corporate purposes.

The ratings reflect the company's distinct policy role and high level of operational integration with the Korean government, Moody's said, as well as its receipt of regular financial support from the government.

Despite its weak financial profile, these factors suggest that Korea Resources' credit profile is closely linked to that of the government, the agency said.

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