Korea Gas Corp.#s Proposed U.S. Dollar Senior Unsecured Bonds Rated #AA-#

Stocks and Financial Services Press Releases Thursday July 13, 2017 17:33
HONG KONG--13 Jul--S&P Global Ratings

HONG KONG (S&P Global Ratings) July 13, 2017--S&P Global Ratings today assigned its 'AA-' issue rating to the proposed issuance of U.S. dollar-denominated senior unsecured bonds by Korea Gas Corp. (KOGAS; AA-/Stable/A-1+). The bonds are to be drawn from the company's US$11 billion global medium-term note program, which we rate 'AA-'. The company plans to use the proceeds for general corporate purposes, including refinancing. The rating on the bond issue is subject to our review of final documentation.

The stable outlook on KOGAS reflects the stable outlook on our sovereign credit rating on Korea (AA/Stable/A-1+) and our expectation of a continuing extremely high likelihood of extraordinary support from the government of Korea in the event of financial distress at the company.


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