New Issue: National Finance Authority (Series 2018A)

S&P Global Ratings assigned its 'A+/A-1' rating to National Finance Authority's $80 million taxable industrial development revenue bonds (CJ FMBC Project) series 2018A due Oct. 1, 2028. 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 timely interest

...Closing date Oct. 25, 2018. Maturity date Oct. 1, 2028. Structure type Full support, direct-pay LOC. Issuer National Finance Authority. LOC provider Kookmin Bank, New York Branch(i). Trustee/tender agent The Bank of New York Mellon. Remarketing agent Merrill Lynch, Pierce, Fenner, & Smith Inc. (i)S&P Global Ratings' credit rating on the bonds is linked to 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, Kookmin Bank, New York Branch, is located. LOC--Letter of credit....

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