Fitch assigns AA- ratings to Korea Water

Fitch Ratings said it assigned a long-term issuer default rating of AA- to Korea Water Resources Corp., along with a senior unsecured debt rating of AA-.

The outlook is stable.

The ratings reflect the company’s strong ties with the South Korean government, near-100% government ownership and status as the sole public entity for many water-related businesses, Fitch said.

The ratings are equalized with Korea’s ratings due to the company’s strong strategic and operational ties with the government, the agency said.

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