S&P rates Kowepo notes AA

S&P said it assigned an AA long-term issue rating to the CHF 200 million senior unsecured notes to be issued by Korea Western Power Co. Ltd. (Kowepo).

The notes will be drawn from the company's $2 billion global medium-term note program.

The proceeds will be used for green, social and sustainability projects such as renewable energy, S&P said.

Kowepo is considered a core subsidiary of Korea Electric Power Corp. (Kepco), so the ratings are equalized.

Kowepo's power generation is integral to Kepco's role of providing a stable supply of electricity in Korea, the agency said.

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