SINGAPORE (Standard & Poor's) Oct. 24, 2003--Standard & Poor's Ratings Services today assigned its 'A-' senior unsecured foreign currency debt rating to the Export-Import Bank of Korea's (KEXIM; foreign currency rating 'A-/Stable/A-2'; local currency rating '--/--/A-1') approximately US$500 million Euro Medium-Term Notes due 2008. The notes will be drawn down from KEXIM's US$4 billion Euro Medium-Term Notes Program, also rated 'A-'. Standard & Poor's issuer credit ratings on KEXIM are based on its public policy role as Korea's official export credit agency, providing financial facilities in support of the Korean government's (foreign currency rating 'A-/Stable/A-2'; local currency rating 'A+/Stable/A-1') export-led growth strategy, and foreign trade and investment policies. The bank is owned and controlled by the government. The ratings also...
Companies mentioned in this report are:
- Export-Import Bank of Korea
- Korea (Republic of)
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.