Moody's rates Industrial Bank of Korea notes A3

Moody's Investors Service said it assigned an A3 rating to Industrial Bank of Korea's proposed unsecured senior notes due 2011. The outlook is stable.

The rating is underpinned by the bank's role as one of Korea's three policy banks and provider of financing to small- and medium-sized enterprises in the country and the government of Korea's legal obligation to replenish any deficit that may arise if the bank's reserves are insufficient to cover annual net losses, 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.