Fitch gives Korea Ocean notes AA-

Fitch Ratings said it gave an AA- rating to Korea Ocean Business Corp.'s planned senior unsecured US dollar notes under its $5 billion medium-term note program.

“KOBC's proposed notes are rated at the same level as the entity's issuer default rating, reflecting its ranking - pari passu - with all its other present and future unsecured and unsubordinated obligations,” Fitch said in a press release.

The proceeds will be used for general corporate purposes.

The outlook is stable.

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