S&P gives Industrial Bank of Korea bonds A+

Standard & Poor's said it assigned its A+ rating to Industrial Bank of Korea's (A+/stable/A-1) proposed dollar-denominated senior unsecured bonds.

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

Proceeds will be used for general corporate purposes.

The bonds will constitute direct, unconditional, unsecured, and unsubordinated obligations of the bank. They will rank pari passu with all other unsecured and unsubordinated obligations of the bank.

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