Moody's rates Industrial Bank of Korea notes A1

Moody's Investors Service said it assigned an A1 rating to the Industrial Bank of Korea's proposed 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.

In line with the country's improved economic prospects and the bank's efforts to enhance its commercial competitiveness, the discussion to privatize the bank is likely to restart in the next few years, the agency said.

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