Fitch gives Kexim notes A+

Fitch Ratings said it assigned an expected rating of A+ with a stable outlook to the Export-Import Bank of Korea's (Kexim) planned senior unsecured global notes.

The amount and term of the issue has yet to be confirmed, but is expected to be around Ps. 1 billion and for five years, respectively, Fitch said, adding that it will be issued under the bank's existing $4 billion program registered at the Securities and Exchange Commission.

The rating on the issue is the same as the bank's long-term issuer default rating of A+ (stable), the agency noted, adding that Kexim's long-term issuer default rating is aligned with that of the Republic of Korea, reflecting the bank's quasi-sovereign status.

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