Fitch affirms Small Business

Fitch Ratings said it affirmed Small Business Corp.'s long-term foreign and local currency issuer default ratings at AA- and short-term foreign currency issuer default rating at F1+.

The outlook is stable.

The agency affirmed the company’s senior unsecured bond at AA-.

“SBC's ratings are equalised with the ratings of Korea (AA-/stable/F1+), reflecting its legal status, firm government ownership, strong regulatory control framework, consistent supports as well as strong socio-political and financial implications for the sponsor if SBC were to default,” Fitch said in a news release.

“There is, therefore, a high likelihood that SBC would receive extraordinary government support if needed.”

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