S&P rates Kepco notes AA

S&P said it gave its AA long-term issue rating to the dollar-denominated senior unsecured notes to be issued by Korea Electric Power Corp. (Kepco). The notes will be drawn from Kepco's $3 billion global medium-term note program.

“The AA rating and stable outlook on Kepco reflects those on the government of South Korea (AA/stable/A-1+) because we equalize the ratings on Kepco with those on the sovereign,” S&P said in a press release.

The company plans to use the proceeds for general corporate purposes.

The outlook is stable.

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