Moody's rates Export-Import Bank of Korea notes A3

Moody's Investors Service said it assigned an A3 rating to the Export-Import Bank of Korea's proposed $500 million senior unsecured floating-rate notes due 2010.

The outlook is stable.

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, its relatively strong financial fundamentals and strong government support, the agency said.

The other rating of the bank is a short-term rating of Prime-2, which also carries a stable outlook.

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