S&P assigns Kepco notes AA

S&P said it assigned its AA long-term issue rating to the dollar-denominated senior unsecured notes that Korea Electric Power Corp. plans to sell. Kepco will draw down the notes from its $11 billion global medium-term note program.

“The AA long-term issuer credit rating and stable outlook on Kepco reflect those on the government of South Korea (AA/stable/A-1+). This is 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 green projects.

The outlook is stable.

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