S&P rates Kowepo notes AA

S&P said it rated Korea Western Power Co. Ltd.’s (Kowepo) planned dollar-denominated senior unsecured notes AA.

“The rating on Kowepo is equalized with the long-term issuer credit rating on Korea Electric Power Corp. (Kepco; AA/stable/A-1+) because we view Kowepo as a core subsidiary of Kepco. Kowepo's power generation is integral to Kepco's role of providing a stable supply of electricity in Korea,” S&P said in a press release.

The company plans to use the proceeds for eligible projects under its green and sustainability framework.

The outlook is stable.

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