KHFC receives A1 rating for its commercial papers (CP)
- Date 2010-01-26
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KHFC
receives highest rating... to further diversify methods of financing -
On January 22, 2010, the Korea Housing Finance Corporation (KHFC, CEO Joo-jae Lim) announced that it had received an A1 rating for its commercial papers from Korea Ratings and Korea Investors Service. A1 is the highest rating for commercial papers.
In granting the top credit rating, the Korea Ratings and Korea Investors Service praised KHFC for maintaining a stable legal and political position as a quasi-government organization, high level government support such as its clause on governmental coverage of loss under the Act of Establishment, and maintaining a public profile.
Previously, KHFC had used asset-backed securities and bonds & debentures as sources of financing, but to flexibly respond to changes in the financial market and to diversify its financing methods, it established a legal framework for issuing CPs at the end of last year.
"The diversification of our financing through the issuance of CPs has helped us to further expand our long-term capital market," said a KHFC official. "As a financial institution working for the working class, we will strive to maintain the highest credibility and credit rating."
On January 22, 2010, the Korea Housing Finance Corporation (KHFC, CEO Joo-jae Lim) announced that it had received an A1 rating for its commercial papers from Korea Ratings and Korea Investors Service. A1 is the highest rating for commercial papers.
In granting the top credit rating, the Korea Ratings and Korea Investors Service praised KHFC for maintaining a stable legal and political position as a quasi-government organization, high level government support such as its clause on governmental coverage of loss under the Act of Establishment, and maintaining a public profile.
Previously, KHFC had used asset-backed securities and bonds & debentures as sources of financing, but to flexibly respond to changes in the financial market and to diversify its financing methods, it established a legal framework for issuing CPs at the end of last year.
"The diversification of our financing through the issuance of CPs has helped us to further expand our long-term capital market," said a KHFC official. "As a financial institution working for the working class, we will strive to maintain the highest credibility and credit rating."