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Korea National Oil Corp.'s CHF240 Million Senior Unsecured Bonds Rated 'A+'

Published Jul 31, 2013

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Abstract:

HONG KONG (Standard&Poor's) July 31, 2013--Standard&Poor's Ratings Services today said it has assigned its 'A+' long-term debt rating to Korea National Oil Corp.'s (KNOC; foreign currency A+/Stable/--; local currency AA-/Stable/--) Swiss Franc (CHF)-denominated 240 million senior unsecured bonds. The bonds have a coupon rate of 1.625%, are due Nov. 29, 2018, and are drawn from its $8 billion global medium-term note program. The stable outlook on our ratings on KNOC reflects the outlook on our sovereign ratings on Korea because we equalize the ratings on both owing to our expectation that there is an almost certain likelihood of the government of Korea providing KNOC with extraordinary support if it suffered financial distress. Equalization of the ratings

Report Type:

Ratings Action

Ticker

KNOCPZ@KS

Issuer

Korea National Oil Corp.

GICS

Oil & Gas Exploration & Production (10102020)

Sector

Global Issuers

Country

Korea

Region

Emerging Markets

Format:

HTML

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Outlooks On Foreign Currency Ratings On Eight Korean GREs To Positive Following Sovereign Action; Ratings Affirmed – 2014/09/21 – US$ 150.00

Korea National Oil Corp. – 2013/05/29 – US$ 500.00

Summary: Korea National Oil Corp. – 2013/05/29 – US$ 225.00

Ratings On Korea National Oil Corp. Affirmed; Outlook Stable; Stand-Alone Credit Profile Lowered To 'bb' – 2012/11/27 – US$ 150.00

Research Update: Ratings On Korea National Oil Corp. Affirmed; Outlook Stable; Stand-Alone Credit Profile Lowered To 'bb' – 2012/11/27 – US$ 225.00

Korea National Oil Corp.'s A$2.5 Billion Australian Domestic Debt Issuance Program Rated 'A+' – 2012/11/01 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Korea National Oil Corp.'s CHF240 Million Senior Unsecured Bonds Rated 'A+'" Jul 31, 2013. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Korea-National-Oil-Corp-s-CHF240-Million-Senior-Unsecured-Bonds-Rated-A-1170546>

APA:	S&P Global Ratings’ Credit Research. (). Korea National Oil Corp.'s CHF240 Million Senior Unsecured Bonds Rated 'A+' Jul 31, 2013. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Korea-National-Oil-Corp-s-CHF240-Million-Senior-Unsecured-Bonds-Rated-A-1170546>

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