S&P rates Kexim notes A

Standard & Poor's said it assigned an A rating to Export-Import Bank of Korea's (Kexim) shelf drawdown of proposed benchmark global dollar-dollar senior unsecured bonds.

The rating is subject to final documents.

The ratings are equalized with the long-term credit rating on the government of Korea, reflecting the likelihood of government support in a distress event, S&P said.

The government has a legal mandate to ensure the bank's solvency, the agency added.

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