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

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

  • ID: 1802199
  • January 2010
  • Standard & Poors

FEATURED COMPANIES

  • Korea National Oil Corp.
  • MORE

Abstract
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

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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Korea National Oil Corp.

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