Moody's assigns Naver, notes A3

Moody's Investors Service said it assigned Naver Corp. and its planned senior unsecured dollar-denominated notes.

"Naver's A3 ratings reflect its (1) dominant position in Korea's online service industry as a leading search and e-commerce platform operator, (2) improving business diversification, (3) solid industry growth prospects and (4) strong balance sheet," said Wan Hee Yoo, a Moody's vice president and senior credit officer, in a press release.

Naver plans to use the proceeds to finance or refinance new or existing projects from the eligible green project categories and the eligible social project categories under its sustainable finance framework.

The outlook is stable.

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