Rating Fees
Introduction of Credit Rating Service and Rating Procedure Guide.
Bond Rating
<VAT not included>
| Total assets(as stated in the most recent financial reports) | Basic fees | Issue fees |
|---|---|---|
| Up to KRW 100 billion | KRW 10 million | 1/10,000 of issue amount (when issued in foreign currency : MAR of the contract date is applied) |
| Over KRW 100 billion, up to KRW 500 billion | KRW 12 million | |
| Over KRW 100 billion, up to KRW 1 trillion | KRW 15 million | |
| Over KRW 100 billion, up to KRW 2 trillion | KRW 20 million | |
| Over KRW 2 trillion | KRW 30 million | |
| Fee ceiling per issue | KRW 50 million | |
| Preliminary rating | Basic fees(issue fee is paid for the first initial rating) | |
- - Basic fee is applied for preliminary rating fee and validity period (basic fee is exempted) for one year from the date of assigning the rating.
- - For one bond rating conducted within one year from the assigning of the issuer rating, basic fee is exempted. SMEs are entitled to a 30% discount on rating fees.
- - 30% of the basic fee before discount applies to regular evaluation fee.
- - Regular evaluation fee applies to the agreements concluded after February 9, 2015 and enterprise credit evaluations including preliminary evaluations on bonds for the same year will be exempted from fee.
- - Two evaluations or more on bonds in the same year will offer a 30% discount off the basic fee. However, bonds issued in multiple series on the same date will lead to a 50% discount off the fee for tranches, except for the first one.
- - Double or more ratings of long-term credit rating on corporate bonds or enterprise credit evaluation, and short-term credit rating on commercial paper or short-term bonds in the same year will offer a 30% discount off follow-up evaluation fee.
However, double ratings on commercial paper and short-term bonds will completely exempt basic fee for follow-up evaluation and regular evaluation fee. - - The division between SMEs and large corporations was made in accordance with the Framework Act on Small and Medium Enterprises in Korea.
- - Basic rating fee of KRW 30 million is charged for won-denominated bonds issued in Korea by non-residents, called "Arirang bonds." Other than basic fee, rating fee for bond credit rating is applied.
Annual fee ceiling per issuer (general business)
<VAT not included>
| Annual Unsecured Bonds Issued | Annual Fee Ceilling |
|---|---|
| Up to KRW 1 trillion | KRW 120 million |
| Over KRW 1 trillion | KRW 150 million |
- - CP rating and STB rating fees are not included in the annual fee ceiling.
Annual fee ceiling per issuer (financial companies)
<VAT not included>
| Annual Unsecured Bonds Issued | Annual Fee Ceilling |
|---|---|
| Up to KRW 1 trillion | KRW 120 million |
| Up to KRW 1.5 trillion | KRW 150 million |
| Over KRW 1.5 trillion | KRW 200 million |
- - CP rating and STB rating fees are not included in the annual fee ceiling.
Annual fee ceiling per issuer (Public Enterprises)
<VAT not included>
| Maximum fee per rating | KRW 30 million |
| Maximum annual fee | KRW 90 million |
- - CP rating and STB rating fees are not included in the annual fee ceiling