Moody's assigns A1 to Komir notes

Moody's Investors Service said it gave an A1 rating to the planned senior unsecured dollar-denominated notes to be issued by Korea Mine Rehabilitation and Mineral Resources Corp.

"The A1 rating primarily reflects our assessment of the very high likelihood of Komir receiving extraordinary support from, and a very high dependence on, the government of Korea," said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a press release.

Komir plans to use the proceeds mainly for general corporate purposes, including the repayment of maturing debt.

The outlook is stable.

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