S&P Credit Research



Title:

Korea Railroad Corp.'s Proposed $300 Million Senior Unsecured Bonds Rated 'A'

Price:$100.00
Publication Date:Apr 29, 2008
Report Type:News
Abstract:HONG KONG (Standard&Poor's) April 30, 2008--Standard&Poor's Ratings Services today assigned its 'A' rating to Korea Railroad Corp.'s (KORAIL; A/Stable/A-1) proposed $300 million senior unsecured bonds. The rating is subject to final documentation. The ratings on KORAIL reflect its strategically important public role and the strong support it receives from the Korean government as a 100% state-owned public operating arm responsible for the operation of the national railway system. These factors are offset, however, by the company's weak stand-alone financial profile, which is mainly due to the lack of control it exerts over its fare structure and its mandated not-for-profit policy role. KORAIL's strategic importance as the sole railway operator in Korea has been highlighted by the
Issuer:Korea Railroad Corp.
GICS:Railroads (20304010)
Sector:Global Issuers, Corporations, Transportation
Country:Korea
Region:Emerging Markets
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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