S&P gives Korea Mine notes A

S&P said it gave an A long-term issue rating to the dollar-denominated senior unsecured notes that Korea Mine Rehabilitation and Mineral Resources Corp. (Komir) plans to issue.

“We rate the notes the same as the long-term issuer credit rating on Komir (A/stable/--). This is because we do not view the capital structure as representing any material risks, such as structural or contractual subordination. Komir has a low priority debt ratio of below 20%,” S&P said in a press release.

Komir plans to use the proceeds for general corporate purposes, including to repay maturing debt.

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