Korean government issuers unlikely to benefit if sovereign is upgraded – Moody's
The decision to place Korean sovereign debt on 'positive' from stable this week does not reflect a change in status for government-related issuers (GRIs) of that country, according to the agency that made the change.
Moody's Investors Service said on April 5 that despite the Korean government being constitutionally obliged to cover any deficit of the GRIs, its decision not to extend the improved outlook to GRIs was due to underlying credit fundamentals becoming a "more important rating driver
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