Moody’s applies Aa3 to Doosan notes

Moody's Investors Service said it assigned a provisional Aa3 rating to the notes due 2020 to be issued by Doosan Heavy Industries & Construction Co., Ltd. (unrated) and guaranteed by the Export-Import Bank of Korea (Kexim, Aa3/P-1 stable).

The provisional Aa3 rating of the notes is based on Kexim's foreign currency senior unsecured rating because Kexim provides an unconditional and irrevocable guarantee on the notes.

The guarantee is a senior unsecured obligation of Kexim.

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