Moody's rates Industrial Bank of Korea notes A2

Moody's Investors Service said it assigned an A2 rating to the Industrial Bank of Korea's new dollar-denominated fixed-rate senior notes drawdown under its $4 billion global medium-term note program.

The outlook is stable.

The rating reflects the bank's important policy function of providing working capital and facility loans to small- and medium-sized enterprises, Moody's said.

The bank provides for its policy function and is legally obligated to replenish any deficit if the bank's reserves prove insufficient to absorb losses, the agency said.

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