Moody’s rates Kexim certificados Aa2

Moody’s Investors Service said it assigned an AA2 global scale rating and Aaa.mx long-term foreign-currency senior unsecured debt rating in the Mexican national scale to Export-Import Bank of Korea’s (Kexim) proposed issuance of certificados bursatiles (cebures).

Kexim’s Aa2 and Aaa.mx senior unsecured debt ratings are at the same level as Korea’s Aa2 rating, Moody’s said.

Kexim will sell up to Ps. 10 billion, but the target amount will be Ps. 6 billion. Kexim 21 will have a maturity of about five years and a floating coupon based on Mexico’s 28-day equilibrium interbank interest rate (TIIE 28). Mexican law will govern the notes.

The outlook is stable.

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