S&P: Korean Air Lines notes A

Standard & Poor’s said it assigned an A long-term issue rating to the senior unsecured floating-rate notes issued by Korean Air Lines Co. Ltd.

Shinhan Bank guarantees the notes, which include a $30 million issue due in 2017, $30 million issue due in 2018 and $40 million issue due in 2019, S&P said.

The ratings were equalized with the rating on Shinhan Bank to reflect a view that the guarantee is irrevocable and unconditional, the agency said, and ensures timely payment, which qualifies for rating substitution treatment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.