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, due July 1, 2033. The 'AA/A-1+' rating on the bonds reflects the rating on the letter of credit (LOC) provider, during the weekly interest rate mode (rated 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
