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Moody's gives Korea Hydro notes A1
Moody's Investors Service said it assigned an A1 rating to Korea Hydro and Nuclear Power Co. Ltd.'s proposed senior unsecured dollar-denominated notes.
The notes will be issued under Korea Hydro's existing $5 billion global medium-term note program, rated provisional A1, which was updated on Sept. 4.
The outlook is stable.
The company plans to use the proceeds from the notes for general corporate purposes, including capital expenditure to build power plants.
"The A1 rating primarily reflects the close relationship between KHNP and Korea Electric Power Corporation, which in turn is KHNP's sole owner and offtaker," Moody's vice president and senior analyst Mic Kang said in a news release.
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