Moody's lifts Korea Water

Moody's Investors Service said it upgraded to A1 from A2 the issuer rating and the foreign-currency senior unsecured debt rating of Korea Water Resources Corp.

This action follows the 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 incorporates a high level of government support in a stress situation, Moody's said.

The ratings also consider its dominant market position and the low business risk/high profitability in its water supply division, the agency said.

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