S&P rates Kexim bonds A

Standard & Poor's said it assigned an A senior unsecured foreign-currency debt rating to the Export-Import Bank of Korea's (foreign-currency A/stable/A-1) benchmark-sized U.S. dollar global bonds.

S&P said Kexim's issuer credit ratings are based on its public policy role as Korea's official export credit agency.

"The ratings also incorporate strong direct support from the government, including capital injections and the provision of loans," S&P credit analyst Takahira Ogawa said in a written statement. The ratings also take into account the government's legal obligation to maintain the bank's solvency, according to the agency.

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