Moody’s gives Korea Water green bond GB1

Moody's Investors Service said it assigned a green bond assessment of GB1 (excellent) to the $300 million senior notes due 2023 issued by Korea Water Resources Corp. (Aa2 stable) in May.

"K-water's debut green bond supports the company's strategy to invest in sustainable development and climate change mitigation and adaptation activities,” Anna Zubets-Anderson, Moody's vice president and senior analyst, said in a news release.

"The use of funds, coupled with the establishment of a green bond framework and comprehensive governance structure, underpins our GB1 assessment, despite some weaknesses in how proceeds are managed.”

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