Fitch assigns Kexim notes A+

Fitch Ratings said it assigned an expected rating of A+ to Export-Import Bank of Korea's proposed senior unsecured dollar-denominated global bond issue. The bonds will be issued under the bank's existing $20 billion shelf program. Both the size and the tenor of the issuance will be determined, subject to market conditions.

Fitch said it believes the new proceeds from the issuance will be used for the bank's general purpose, including roll-over or repayment of maturing foreign-currency debts and other obligations. The rating is contingent upon receipt of final documents.

The expected rating of the issue is the same as the bank's long-term foreign-currency issuer default rating, which is aligned with the Republic of Korea's sovereign rating, reflecting the bank's quasi-sovereign status, 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.