Moody's: Industrial Bank of Korea notes Aa3

Moody's Investors Service said it assigned an Aa3 rating to Industrial Bank of Korea's proposed euro-denominated senior unsecured notes to be drawn from its $8 billion global medium-term note program.

The outlook is stable.

Moody's said the rating reflects a six-notch uplift to Industrial Bank of Korea's local currency deposit rating from its standalone credit profile of baa3, based on our view that Industrial Bank of Korea is likely to be fully supported by the Korean government (Aa3 stable) in case of need.

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