Fitch rates Kexim bonds A+

Fitch Ratings said it assigned an expected rating of A+ to the Export-Import Bank of Korea's (Kexim) planned senior unsecured Japanese yen bonds, including fixed and floating bonds. The issue size and terms have yet to be confirmed. The rating is the same as the bank's long-term issuer default rating of A+ with stable view. The final rating is contingent upon receipt of final documents.

Kexim's long-term issuer default rating is aligned with that of the Republic of Korea, reflecting the bank's quasi-sovereign status. The bank, therefore, enjoys a de facto solvency guarantee from the Korean government, which Fitch said it believes will ensure that it meets its obligations in a timely manner.

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