National Finance Authority Bonds Series 2018A Assigned Rating

NEW YORK (S&P Global Ratings) Oct. 25, 2018--S&P Global Ratings today assigned its 'A+/A-1' rating to National Finance Authority's taxable industrial development revenue bonds (CJ FMBC Project) series 2018A. The 'A+/A-1' rating on the bonds reflects our view of the creditworthiness of the letter of credit (LOC) provider, which is based on the lower of our long- and short-term issuer credit ratings on Kookmin Bank ('A+/A-1'), the LOC provider's parent, and our long- and short-term foreign currency ratings on the U.S. ('AA+/A-1+'), the jurisdiction where the LOC provider is located. For more information on bank branch ratings, see "Methodology Applied To Bank Branch-Supported Transactions," published Oct. 14, 2013. The long-term component of our rating addresses our expectation of full and

...NEW YORK (S&P Global Ratings) Oct. 25, 2018--S&P Global Ratings today assigned its 'A+/A-1' rating to National Finance Authority's taxable industrial development revenue bonds (CJ FMBC Project) series 2018A. The 'A+/A-1' rating on the bonds reflects our view of the creditworthiness of the letter of credit (LOC) provider, which is based on the lower of our long- and short-term issuer credit ratings on Kookmin Bank ('A+/A-1'), the LOC provider's parent, and our long- and short-term foreign currency ratings on the U.S. ('##+/A-1+'), the jurisdiction where the LOC provider is located. For more information on bank branch ratings, see "Methodology Applied To Bank Branch-Supported Transactions," published Oct. 14, 2013. The long-term component of our rating addresses our expectation of full and timely interest and principal payments when the bondholders have not exercised the put option. The short-term component of our rating addresses our expectation of full and timely interest and principal...

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