State-run Korea Electric Power Corp. said Monday that its credit rating is the highest among its global peers, on the back of a strong bottom line and government backup.

KEPCO is rated "AA-" by Standard & Poor's and Fitch Ratings and "Aa3" by Moody's Investors Service, which are on par with those for South Korea, the utility firm said.

KEPCO said earlier it posted strong results for the nine months ended on Sept. 30, with its consolidated operating profit reaching 8.7 trillion won ($7.53 billion), up 76 percent from 4.9 trillion won a year earlier.

The utility firm is expected to continue to deliver largely due to strong operational cash flow and lower capital expenditure.

Also, the cash proceeds of about 9 trillion won that KEPCO received for its land sale will enable the company to further reduce its debt leverage, the global rating agencies said earlier. (Yonhap)