Doosan Infracore#s Proposed Bonds Guaranteed By Korea Development Bank Rated #AA#

Stocks and Financial Services Press Releases Friday November 11, 2016 16:09
HONG KONG--11 Nov--S&P Global Ratings

HONG KONG (S&P Global Ratings) Nov. 11, 2016--S&P Global Ratings today assigned its 'AA' issue rating to proposed senior unsecured bonds by Doosan Infracore Co. Ltd. (unrated). The issuance is guaranteed by Korea Development Bank (KDB: foreign currency AA/Stable/A-1+; local currency --/--/A-1+). The rating is subject to our review of final documentation.

The equalization of the issue rating with the rating on KDB reflects our view that the guarantee is irrevocable and unconditional. We view it as a guarantee for timely payment, and therefore the issuance qualifies for rating substitution treatment.

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