Fitch rates Korail notes AA-

Fitch Ratings said it assigned an AA- rating to Korea Rail Corp.’s proposed dollar-denominated senior unsecured notes to be sold under the company’s $2 billion senior unsecured medium-term note program, which it also assigned an AA- rating to.

“The ratings on the MTN program and notes issued under the program are driven by and directly linked to Korail’s long-term senior unsecured debt ratings,” said Fitch in a press release.

Fitch affirmed Korail’s AA- rating on Oct. 10. The agency said the rating is mainly driven by the expectation that the Korean government will step in with financial support if needed.

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