S&P upgrades KOGAS and five Korean GENCOs

Dec 11 - Standard & Poor's Ratings Services today raised to 'A' from 'A-' its long-term local and foreign currency corporate credit ratings and senior unsecured debt ratings on Korea Gas Corp. <036460.KS> (KOGAS) and five of the country's thermal power generation companies (GENCOs). These include Korea Western Power Co. Ltd. (KOWEPO), Korea Midland Power Co. Ltd. (KOMIPO), Korea East-West Power Co. Ltd. (EWP), Korea Southern Power Co. Ltd. (KOSPO), and Korea South East Power Co. Ltd. (KOSEP). The outlooks on the long-term corporate credit ratings on the companies are stable. At the same time, Standard & Poor's affirmed its 'A' long-term local and foreign currency corporate credit ratings and senior unsecured debt ratings on Korea Electric Power Corp. <015760.KS> (KEPCO) and Korea Hydro & Nuclear Power Co. Ltd. , as well as its 'A-1' short-term corporate credit rating on KEPCO. The outlooks on the long-term corporate credit ratings on the two companies remain stable.