Korea Gas Corp. Jun 10

Standard & Poors, June 2010

Abstract
Extremely high likelihood of extraordinary governmental support Strong market position as the sole Korean LNG transmission/distribution company Limited privatization risk Deterioration in financial profile Aggressive capital expenditure plans Uncertainty related to LNG import market deregulation The rating on Korea Gas Corp. (KOGAS) reflects Standard & Poor's Ratings Services' opinion that there is an "extremely high" likelihood that the Korean government would provide timely and sufficient extraordinary support to KOGAS in the event of financial distress. We assess the stand-alone credit profile on KOGAS to be in the 'BBB' category. In accordance with our criteria for government-related entities (GREs), our rating approach is based on our view of KOGAS': "Critical" role as the sole Korean LNG transmission/wholesale distribution company; and "Very...

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Korea Gas Corp.
- Korea Development Bank
- Korea Electric Power Corp.
- Korea (Republic of)
- Export-Import Bank of Korea
- Korea Western Power Co. Ltd.
- Korea Hydro & Nuclear Power Co. Ltd.
- Korea Southern Power Co. Ltd.
- Small Business Corp.
- Korea East-West Power Co. Ltd.
- Korea Midland Power Co. Ltd.
- Korea Expressway Corp.
- Harvest Operations Corp.
- Korea Rail Network Authority
- Korea Water Resources Corp.
- Korea National Oil Corp.
- Korea South East Power Co. Ltd.
- Korea Resources Corp.
- Korea Land and Housing Corp.
- Korea Housing Finance Corp.
- Korea Finance Corp.

Customers who bought this item also bought

• South Korea Infrastructure Report Q2 2012
• Defense and Security in North Korea
• Defense and Security in South Korea
• Defense Spending in South Korea
• North Korea Defence and Security Report 2013
• South Korea Defence and Security Report Q4 2012
• The South Korea Defense Industry - Industry Dynamics to 2017: Market Profile
• OECD Urban Policy Reviews, Korea 2012
• The South Korean Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• South Korea Defence and Security Report Q1 2013