KEXIM's Credit Rating

Current Status

Moody's		S & P		Fitch		R&I
Long-term	Short-term	Long-term	Short-term	Long-term	Short-term	Long-term
2012. 9	Aa3 (Stable)	P-1	A+(Stable)	A-1	AA- (Stable)	F1+	A+ (Stable)

Highest Credit Rating before IMF crisis
- Moody's(‘97.11.27): A3, S&P(‘95.5.3) : AA­, R&I(‘95.8.11) : AA+ Credit

Ratings by Agencies

• Long-term (maturity is longer than 1 year)

  Moody's	S&P	R&I	Fitch
  Aaa	AAA	AAA	AAA	the highest quality with the "smallest degree of risk"
  Aa1 Aa2 Aa3	AA+ AA AA-	AA+ AA AA-	AA+ AA AA-	high quality with "very low credit risk", but "their susceptibility to long-term risks appears somewhat greater"
  A1 A2 A3	A+ A A-	A+ A A-	A+ A A-	"upper-medium grade", subject to "low credit risk", but that have elements "present that suggest a susceptibility to impairment over the long term"
  Baa1 Baa2 Baa3	BBB+ BBB BBB-	BBB+ BBB BBB-	BBB+ BBB BBB-	"moderate credit risk", medium-grade and as such "protective elements may be lacking or may be characteristically unreliable
  Ba1 Ba2 Ba3	BB+ BB BB-	BB+ BB BB-	BB+ BB BB-	have "questionable credit quality"
  B1 B2 B3	B+ B B-	B+ B B-	B+ B B-	speculative and "subject to high credit risk" and have "generally poor credit quality"
  Caa	CCC	CCC	CCC	"poor standing and are subject to very high credit risk", and have "extremely poor credit quality"
  Ca	CC	CC	CC	"high speculative", and are "usually in default on their deposit obligations"
  C	C	C	C	"The lowest rated class of bonds and are typically in default", and "potential recovery values are low"

• Short-term (maturity is shorter than 1 year)

  Moody's	S&P	R&I	Fitch
  P-1	A-1	a-1	F-1	a superior ability to repay short-term debt obligations
  P-2	A-2	a-2	F-2	a strong ability to repay short-term debt obligations
  P-3	A-3	a-3	F-3	an acceptable ability to repay short-term obligations
  NP	B	b	B	Not prime, not falling within any of the Prime rating categories

• Historical Data

  본문내용

  		Moody's		S & P		Fitch		R&I
  		Long-term	Short-term	Long-term	Short-term	Long-term	Short-term	Long-term
  2000	1. 1	Baa2	P-3	BBB	A-3	BBB	D-3	BBB+
  	5. 31					BBB+	F2
  2001. 11. 13				BBB+	A-2
  2002	3. 28	A3	P-2
  	4. 12							A-1
  	6. 27					A	F1
  	7. 24			A-
  2004. 7. 27								A
  2005	7. 27			A	A-1
  	10. 24					A+
  2006	4. 11							A+
  	8. 10		P-1
  	10. 31	Aa3
  2007	7. 25	A2
  2010	4. 14	A1
  2012	8. 27	Aa3
  	9. 6					AA-	F1+
  	9. 14			A+	A-1+