S&P rates Kogas bonds A+

Standard & Poor's said it assigned an A+ rating to Korea Gas Corp.'s (Kogas) proposed dollar-denominated senior unsecured bonds to be drawn from its $8 billion global medium-term note program.

Kogas is virtually the sole gas network provider and wholesale distributor of natural gas in the Republic of Korea, S&P said.

The ratings reflect the extremely high likelihood that the Korean government will provide timely and sufficient extraordinary support to Kogas in the event of financial distress, the agency said.

The company's stand-alone credit profile is BB+.

© 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.