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Prospect News home > News index > List of issuers K > Headlines for Korea Western Power Co., Ltd. (Kowepo) > News item |
S&P cuts Kepco credit profile
Standard & Poor's said it affirmed its long- and short-term corporate credit ratings on Korea Electric Power Corp. at A+/A-1 and its long-term corporate credit ratings on Korea Hydro & Nuclear Power Co. Ltd., Korea East-West Power Co. Ltd., Korea Midland Power Co. Ltd., Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd. and Korea Western Power Co. Ltd. at A+.
At the same time, the agency said it revised the stand-alone credit profile for Kepco and its six subsidiaries to BBB- from BBB. The outlook is stable.
The agency said the affirmation of its ratings on Kepco reflects the view that potential extraordinary support from the government of the Republic of Korea in the event of financial stress at the company would be extremely high.
S&P said the revision of the stand-alone credit profile for Kepco and its six subsidiaries reflects the expectation that Kepco's financial risk profile will deteriorate owing to its significant capital expenditure program over the coming three years.
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