Moody's rates Kexim bond Aa3

Moody's Investors Service said it assigned an Aa3 rating to The Export-Import Bank of Korea's (Kexim) Mexican peso senior unsecured bond issuance due October 2017.

The outlook is stable.

The rating is subject to final documents.

The ratings reflect the application of Moody's rating methodology for government-related issuers. The high level of support incorporated in the rating is underpinned by the stipulation in the Kexim Act that holds the government responsible for its solvency and its close affiliation with the government as a government-controlled policy bank, the agency said.

Its ratings also incorporate the high probability that the bank will maintain this strategic importance going forward, given the importance of the export sector to the Korean economy, Moody's said.

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