Korea Land and Housing Corp.#s HK$780 Million Senior Unsecured Bonds Rated #AA-#

Stocks and Financial Services Press Releases Wednesday January 27, 2016 16:39
HONG KONG--27 Jan--Standard & Poor's

HONG KONG (Standard & Poor's) Jan. 27, 2016--Standard & Poor's RatingsServices today said it has assigned its 'AA-' global scale rating and 'cnAAA'Greater China scale rating to Korea Land and Housing Corp.'s (LH;AA-/Stable/--) Hong Kong dollar (HK$) 780 million senior unsecured bonds to be

drawn from the company's US$1 billion global medium-term note program. Thecompany plans to use the proceeds for general corporate purposes.

The ratings on LH reflect Standard & Poor's opinion that there is an "almostcertain" likelihood that the government of the Republic of Korea(AA-/Stable/A-1+) will provide LH with timely and sufficient extraordinarysupport if it were to experience financial distress. LH is the solegovernment-owned entity responsible for meeting the government's objectives ofa stable supply of development land and public housing in Korea. We assess thestand-alone credit profile for LH to be 'bb-'.

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