Moody's rates Kexim notes A3

Moody's Investors Service said it assigned an A3 rating to The Export-Import Bank of Korea's (Kexim) proposed $1 billion issuance under its European medium-term note program. The rating is under review for upgrade.

The agency said the ratings reflect Kexim's high dependence on and the high likelihood of support from its owner, the government of South Korea, and the government's A3 local-currency rating.

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