Moody’s rates Kospo bonds Aa2

Moody’s Investors Service said it assigned an Aa2 rating to the proposed senior unsecured Australian dollar bonds to be issued by Korea Southern Power Co., Ltd. (Kospo, Aa2 stable).

The notes will be issued under Kospo's newly established A$2 billion global medium-term note program.

Kospo will use the proceeds for general corporate purposes, including overseas investments.

“The Aa2 rating reflects Kospo's close operational and financial relationship with its parent, Korea Electric Power Corp., and its strategic importance to Korea's economy as a major power generator," said Mic Kang, Moody's vice president and senior credit officer, in a news release.

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