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Moody’s rates GS Caltex notes Baa1
Moody’s Investors Service said it assigned a Baa1 rating to the proposed senior dollar notes to be issued by GS Caltex Corp. The outlook is stable.
GS Caltex plans to use the proceeds mainly for general corporate purposes, including the repayment of outstanding borrowings.
“GS Caltex's Baa1 rating reflects its baa3-level underlying credit strength, underpinned by its strong market position as one of the major oil refiners in Korea and its diversification into the petrochemical and lubricants segments,” Wan Hee Yoo, Moody's vice president and senior credit officer, said in a news release.
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