S&P rates Korea Hydro notes AA

S&P said it rated Korea Hydro & Nuclear Power Co. Ltd.’s planned dollar-denominated senior unsecured notes AA. The notes will be a drawdown from KHNP’s $5 billion global medium-term note program.

“The issue rating on the proposed notes is the same as the issuer credit rating on KHNP due to limited subordination risks. As of March 31, 2022, KHNP's capital structure consisted of about Korean won (KRW) 11.6 trillion of unsecured debt at the parent level and about KRW 0.3 trillion of debt at the subsidiary level,” S&P said in a press release.

KHNP is a subsidiary of Korea Electric Power Corp., also rated AA.

The issuer will use the proceeds for general corporate purposes.

The outlook is stable.

© 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.