Korea National Oil Corp.'s Proposed Senior Unsecured Samurai Bonds Rated 'A' Jan 10

  • ID: 1802199
  • January 2010
  • Standard & Poors
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  • Korea National Oil Corp.
  • MORE

HONG KONG (Standard & Poor's) Jan. 12, 2010--Standard & Poor's Ratings Services today assigned its 'A' foreign currency ratings to three proposed senior unsecured samurai bonds issued by Korea National Oil Corp.'s (KNOC; foreign currency rating A/Stable/--; local currency rating A+/Stable/--). The bonds are: -10 billion three-year senior unsecured samurai bonds due 2013; -10 billion five-year senior unsecured samurai bonds due 2015; and -10 billion 10-year senior unsecured samurai bonds due 2020. The ratings are subject to final documentation. The ratings on KNOC are equalized with the long-term ratings on the Republic of Korea (foreign currency rating A/Stable/A-1; local currency rating A+/Stable/A-1), reflecting Standard & Poor's opinion that there is "almost certain" likelihood that the Korean government would provide timely...

Companies mentioned in this report are: Korea National Oil Corp.
Action: New Rating

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Korea National Oil Corp.

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