Fitch rates SR A+

Fitch Ratings said it assigned a long-term issuer default rating of A+ to SR Co., Ltd. with a stable outlook.

The company is credit linked to – and one-notch lower than – state-owned Korea Railroad Corp., Fitch said.

This is reflected in the controlling stakes of Korea Railroad (Korail) and SR’s strong financial integration and operational ties with Korail, the agency said.

SR was set up by the Korean government to improve service and efficiency of the high-speed train industry and provide competition, Fitch said.

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