S&P: Korea Resources bonds A+

S&P said it assigned an A+ rating to Korea Resources Corp.'s proposed dollar-denominated senior unsecured bonds.

The bonds are to be drawn from the company's $3 billion global medium-term note program.

The proceeds will be used for general corporate purposes.

The stable outlook reflects an expectation that the company will continue to receive government support because it serves an essential policy role by securing overseas mineral resources for economic development in Korea, S&P said.

The agency said it expects the company's continuing investments in overseas resources to increase its exposure to business cycles in the mineral resources sector.

But, its strong and consistent government support offsets the risk, S&P said.

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