National Finance Authority Taxable Industrial Development Revenue Bonds (Joon Georgia Inc.) Series 2023 Assigned Rating

NEW YORK (S&P Global Ratings) July 27, 2023--S&P Global Ratings today assigned its 'AA/A-1+' rating to National Finance Authority's taxable industrial development revenue bonds (Joon Georgia Inc. Project) series 2023. The 'AA/A-1+' rating on the bonds reflects the rating on the letter of credit (LOC) provider during the weekly interest rate mode. The long-term component of the rating on the bonds reflects the lower of our long-term foreign currency rating on the LOC provider's parent, The Korea Development Bank, and the U.S., the jurisdiction where the LOC provider, The Korea Development Bank New York Branch, is located and our expectation of full and timely interest and principal payments when the bondholders have not exercised the put option. (For more information

...July 27, 2023 NEW YORK (S&P Global Ratings) July 27, 2023--S&P Global Ratings today assigned its '##/A-1+' rating to National Finance Authority's taxable industrial development revenue bonds (Joon Georgia Inc. Project) series 2023. The '##/A-1+' rating on the bonds reflects the rating on the letter of credit (LOC) provider during the weekly interest rate mode. The long-term component of the rating on the bonds reflects the lower of our long-term foreign currency rating on the LOC provider's parent, The Korea Development Bank, and the U.S., the jurisdiction where the LOC provider, The Korea Development Bank New York Branch, is located and our expectation of full and timely interest and principal payments when the bondholders have not exercised the put option. (For more information on bank branch ratings, see "Methodology For Bank Branch-Supported Transactions", published Oct. 14, 2013.) The short-term component of the rating reflects the lower of our short-term foreign currency rating on...

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