S&P gives Kexim notes A

Standard & Poor's said it assigned its A senior unsecured foreign currency debt rating to the Export-Import Bank of Korea's (Kexim, foreign currency A/stable/A-1, local currency A-1) proposed $1 billion equivalent global notes.

The agency noted that the issuer credit ratings on Kexim are based on its public policy role as the country's official export credit agency, adding that Kexim provides financial facilities in support of the Korean government's (foreign currency A/stable/A-1, local currency A+/stable/A-1) export-led growth strategy and foreign trade and investment policies.

The ratings also incorporate the strong direct support from the Korean government, including capital injections and provision of loans, S&P said.

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