S&P rates Industrial Bank of Korea bonds A+

Standard & Poor's said it assigned an A+ rating to Industrial Bank of Korea's proposed euro-denominated senior unsecured bonds.

The bonds will be drawn down from the bank's $8 billion global medium-term note program.

The bank intends to use the bond proceeds for general corporate purposes. The bonds will constitute direct, unconditional, unsecured and unsubordinated obligations of the bank, S&P said.

They will rank pari passu with all other unsecured and unsubordinated obligations of the bank, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.