Summary: Export-Import Bank of Korea Sep 10

Standard & Poors, September 2010

Abstract
The ratings on the Export-Import Bank of Korea (KEXIM: foreign currency A/Stable/A-1; local currency --/--/A-1) are based on its critical public policy role and integral link with the government of Korea (foreign currency A/Stable/A-1; local currency A+/Stable/A-1). The ratings also reflect KEXIM's low profitability and high concentration risk. KEXIM is the country's official export credit agency, mandated to facilitate Korean companies' exports, imports, overseas investments, and development of overseas natural resources through the provision of financing facilities such as loans and guarantees, on behalf of the Korean government. The ratings on KEXIM are equalized with the long-term credit rating on the Korean government, reflecting Standard & Poor's Ratings Services' opinion that there is an 'almost certain' likelihood that the Korean...

Companies mentioned in this report are:
- Export-Import Bank of Korea

Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Export-Import Bank of Korea

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