OREANDA-NEWS. Fitch Ratings has today assigned an 'AA-' rating to the Export-Import Bank of Korea's (KEXIM, AA-/Stable) senior unsecured notes (so-called 'green bond'). The notes' (ISIN: US302154BZ10) issue size is USD400m, and the maturity is five years.

Unlike KEXIM's other typical senior unsecured notes, the net proceeds from the notes will be used to extend loans specifically to fund eligible projects that promote the transition to low-carbon and climate resilient growth. KEXIM will annually disclose a list of eligible projects and further information on a selection of projects.

KEY RATING DRIVERS
SENIOR DEBT
The notes represent direct, unconditional, unsecured and unsubordinated obligations of KEXIM, and are rated in line with its Long-Term Issuer Default Rating (IDR) of 'AA-'.

RATING SENSITIVITIES
SENIOR DEBT
Any change in KEXIM's IDR will be reflected in the rating of the notes.