Fitch lowers Korea National Oil, withdraws ratings

Fitch Ratings said it downgraded Korea National Oil Corp.’s long-term foreign-currency issuer default rating and foreign-currency senior unsecured rating to A+ from AA-.

The outlook is stable.

Fitch also affirmed the short-term foreign-currency IDR at F1+.

Fitch said it has chosen to withdraw the ratings for commercial reasons. Fitch will no longer provide ratings or analytical coverage for the entity.

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