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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Research type: News
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