CI Guarantee (CIG) will sustain excellent capital adequacy and its niche position despite a very small presence in Korea's overall guarantee and insurance market. Its business stability benefits from a legal framework which clearly defines its business scope. We see a moderately high likelihood of the Korean government providing extraordinary support to CIG, if needed. This reflects the insurer's important role in providing guarantees and insurance for the plant and mechanical construction industry in Korea and its strong link with the government. We assigned our 'A' long-term local-currency insurer financial strength rating and issuer credit rating to CIG. The stable rating outlook reflects our view that CIG will maintain its excellent capital adequacy to support business growth, and moderately high
