S&P Global Ratings today assigned its 'A+/A-1' rating to National Finance Authority taxable industrial development revenue bonds (Hanwha Q Cells USA Inc.) (Green Bonds) series 2024A, due Feb. 1, 2029. The 'A+/A-1' rating on the bonds reflects the rating on the letter of credit (LOC) provider, during the weekly interest rate mode (the rated mode). The 'A+' 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, Kookmin Bank, and our long-term rating on the U.S., the jurisdiction where the LOC provider, Kookmin Bank, New York Branch, is located and operates, and our expectation of full and timely interest and principal payments when the bondholders have not exercised
