S&P rates Samsung notes A

Standard & Poor's said it assigned it's A rating to the proposed senior unsecured notes to be issued by Samsung Electronics America Inc., which is 100% owned by Samsung Electronics Co. Ltd. The parent has guaranteed the notes.

S&P said the equalization of the rating on the notes with the ratings on Samsung Electronics Co. Ltd. reflects S&P's view that the guarantee is unconditional and irrevocable and therefore qualifies for rating substitution treatment.

Also, the equalization of the ratings incorporates S&P's view that payment of the obligation on the proposed notes guaranteed by Samsung Electronics would be timely given the relationship between issuer and guarantor, the guarantor's strong financial capacity and the issuer's importance to the guarantor as a key subsidiary in the United States, the agency said.

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