HONG KONG (Standard&Poor's) Oct. 1, 2010--Standard&Poor's Ratings Services said today that the long-term corporate credit rating on SK Energy Co. Ltd. (SKE, BBB/Negative/--) as well as the 'BBB' ratings on two senior unsecured bonds of US$300 million due 2011 and US$450 million due 2013 are not affected by a planned spin-off by the company. SK Energy plans to spin off two major units in the R&M (Refining and Marketing) and petrochemical businesses into separate entities as of Jan. 1, 2011. Under the plan, the two new operating companies will be 100% owned by SKE (the holding company) and the two senior unsecured bonds will remain under the holding company. We believe that the spin-off plan is
