Moody's rates Korea Southern notes A1

Moody's Investors Service said it assigned an A1 rating to the proposed senior unsecured dollar-denominated notes of Korea Southern Power Corp. Co. Ltd. (Kospo).

The outlook is stable.

The proceeds from the notes will be used for repayment of existing debt.

"The A1 rating reflects Kospo's close operating and ownership relationship with Korea Electric Power Corp. (Kepco, A1 stable), which is the sole owner and the firm's offtaker," Moody's vice president and senior analyst Mic Kang said in a news release.

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