Moody's rates Kexim notes Aa3

Moody's Investors Service said it assigned an Aa3 rating to the Export-Import Bank of Korea's (Kexim) proposed Mexican pesos senior notes issued under a registered shelf program.

The outlook is stable.

The rating is subject to receipt of final documents.

The rating reflects Moody's methodology for government-related issuers. It is underpinned by the stipulation in the Kexim Act holding the government responsible for its solvency, Moody's said.

The rating also incorporates the high probability that the bank will maintain this strategic importance going forward, the agency said, given the importance of the export sector to the Korean economy.

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