Moody’s affirms Industrial Bank of Korea

Moody's Investors Service said it affirmed the ratings and assessments of Industrial Bank of Korea, including the baseline credit assessment and adjusted baseline credit assessment of baa2.

The outlook is stable.

The agency said the affirmation reflects the bank’s status as a policy bank that is majority-owned by the government.

The affirmation of the bank’s baseline credit assessment reflects its relatively good asset quality, which is viewed to be in line with the Korean commercial banks, Moody’s said.

“While the bank's capital and liquidity are weak, these weaknesses are offset by ongoing government support,” the agency said in a news release.

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