S&P gives Kospo A-

Standard & Poor's said it assigned its A- rating to Korea Southern Power Co. Ltd.'s (Kospo, A-/stable) proposed $300 million senior unsecured bonds, noting that the rating is subject to final documentation.

According to the agency, the rating on Kospo is based on the company's position as one of only five thermal electric-power generating companies in Korea, as well as its relatively stable cash flow generation.

S&P said it expects reform and deregulation of the Korean electric utility industry to continue, minimizing the risk of disruptions and maintaining both market stability and the financial profile of the generating companies.

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