S&P rates Kexim notes A

Standard & Poor's said it assigned an A rating to the Export-Import Bank of Korea's (Kexim) shelf drawdown of proposed benchmark U.S. dollar senior unsecured bonds. The rating is subject to final documentation.

The ratings are equalized with the long-term credit rating on the government of Korea, reflecting the 'almost certain' likelihood of Korean government support to Kexim in the event of financial distress, S&P said.

The ratings also reflect the bank's low profitability and high concentration risk, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.