S&P gives A+ to Kexim bonds

Standard & Poor's said it assigned its A+ rating to Export-Import Bank of Korea's (Kexim; foreign currency A+/stable/A-1; local currency --/--/A-1+) proposed benchmark global British-pound senior unsecured bonds drawn down from its US$15 billion euro medium term note program.

The ratings on Kexim are equalized with the sovereign ratings on Korea (foreign currency A+/stable/A-1; local currency AA-/stable/A-1+), reflecting S&P's opinion that there is an almost certain likelihood that the Korean government would provide timely and sufficient extraordinary support to Kexim in the event of financial distress.

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