Moody's rates Kexim notes A3

Moody's Investors Service said it assigned an A3 rating to The Export-Import Bank of Korea's proposed Euro five-year floating-rate senior notes issuance under its $6 billion Euro medium-term note program. The outlook is stable.

Moody's said the rating is underpinned by the strategic role of The Export-Import Bank of Korea in financing the country's export sector, its importance as a government-controlled policy bank and its relatively strong financial fundamentals.

The bank played a critical role during the economic crisis, acting as provider of trade credits to both Korean exporters and importers, according to Moody's. Throughout the economic crisis, the bank maintained a sound financial profile and remained consistently profitable.

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