Moody's: Korea Exchange notes A2

Moody's Investor's Service said it assigned an A2 rating to Korea Exchange Bank's proposed U.S. dollar senior unsecured notes to be drawn from its $4 billion global medium-term note program. The outlook is positive.

The agency said the rating incorporates the bank's financial strength rating of C-, which maps to a baa2 standalone credit profile on the long-term scale. The rating also reflects Moody's assessment of the very high probability of government support.

The main drivers of Korea Exchange Bank's baa2 standalone credit profile are its good franchise, good capital adequacy, modest liquidity and high credit risk concentration.

© 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.