Moody's takes actions on 10 Korean banks

Moody's Investors Service took several actions on 10 Korean banks for various reasons.

Citibank Korea Inc.'s global local-currency deposit of A1, bank financial strength rating of C- and baseline credit assessment of Baa1 remain on review for possible downgrade. Its foreign-currency long-term/short-term deposit of A2/prime-1 were affirmed. The outlook is stable.

Hana Bank's foreign-currency long-term senior debt was lowered to A2 from A1. The outlook is stable. Its foreign-currency subordinated debt of A2 remain on review for possible downgrade, along with the bank financial strength rating of C. Foreign-currency long-term/short-term deposit of A2/prime-1 were affirmed.

Industrial Bank of Korea's foreign-currency long-term senior/subordinated debt ratings were lowered to A2/A2 from Aa3/Aa3 with stable outlook. Foreign-currency long-term/short-term deposit of A2/prime-1 and the bank financial strength rating of D+ were affirmed.

Export-Import Bank of Korea's foreign-currency long-term senior debt was lowered to A2 from Aa3 with a stable outlook. Foreign-currency short-term debt of prime-1 was affirmed with stable outlook.

Kookmin Bank's foreign-currency long-term senior/subordinated debt ratings were lowered to A2/A2 from Aa3/A1 with stable outlook. The subordinated debt rating remains on review for possible downgrade, along with its bank financial strength rating of C. Foreign currency long-term/short-term deposit ratings of A2/prime-1 were affirmed.

Korea Development Bank's foreign-currency long-term senior debt was lowered to A2 from Aa3 with a negative outlook. Foreign-currency long-term/short-term deposit ratings of A2/prime-1 and bank financial strength rating of D were affirmed. The other ratings have a stable outlook.

National Agricultural Cooperative Federation's foreign-currency long-term senior debt was lowered to A2 from A1 with stable outlook. Foreign-currency subordinated debt of A2 was confirmed with a stable outlook. Foreign-currency long-term/short-term deposit of A2/prime-1 and bank financial strength rating of D+ were affirmed.

Shinhan Bank's foreign-currency long-term senior debt was lowered to A2 from A1 with stable outlook. Foreign-currency subordinated and hybrid tier 1 debt of A2/A3 remain on review for possible downgrade, along with the bank financial strength rating of C. Foreign-currency long-term/short-term deposit ratings of A2/prime-1 were affirmed.

Woori Bank's foreign-currency long-term senior debt was lowered to A2 from A1 with stable outlook. Foreign-currency subordinated and hybrid tier 1 debt of A2/A3 remain on review for possible downgrade. The bank financial strength rating of C was placed on review for possible downgrade. Foreign-currency long-term and short-term deposit of A2/prime-1 ratings were affirmed.

Woori Finance Holdings' issuer rating of A2 remains on review for possible downgrade.

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