S&P ups Korea Exchange Bank view to positive

Standard & Poor's said it revised the outlook on its long-term counterparty credit ratings on Korea Exchange Bank (KEB) to positive from stable on improving capitalization and asset quality.

At the same time, S&P said it affirmed its BBB long-term counterparty credit rating on the bank.

"The outlook revision is based mostly on expectations for improving fundamentals rather than the likelihood of KEB being taken over by stronger banks," said S&P credit analyst Jae Min Kwon.

"KEB has demonstrated its ability to improve its capital structure and it has strengthened its credit quality significantly in a relatively short period of time."

The agency said KEB's weak market position compared with major competitors and uncertainty over its shareholding structure remain constraining factors for the rating.

© 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.