S&P rates Kepco notes AA

S&P said it rated Korea Electric Power Corp.’s (Kepco) planned U.S. dollar-denominated senior unsecured notes AA. The notes will be drawn from Kepco's $3 billion global medium-term note program.

“The AA rating and stable outlook on Kepco reflect those on Korea (AA/stable/A-1+) because we equalize the ratings on Kepco with those on the sovereign. We equalize the rating on the notes with the issuer credit rating on Kepco due to limited subordination risks. We expect the company will maintain its public status to carry out the Korean government's electricity policy,” S&P said in a press release.

The company plans to use the proceeds for green projects as defined in its sustainable framework.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.