Fitch rates Woori Bank notes A-

Fitch Ratings said it assigned an expected rating of A- to Woori Bank's proposed senior unsecured dollar-denominated global notes issue. The notes will be issued under the bank's existing $7 billion global medium-term note program.

While the final issue size and tenor will be determined subject to market conditions, Fitch said it expects the issuance will not affect the bank's leverage position substantially.

Proceeds will be used for the bank's general purposes and repaying maturing foreign-currency debts and other obligations, the agency said.

The expected rating is in line with Woori's long-term foreign-currency issuer default rating of A-, which reflects a high probability of support from the South Korean government, Fitch said.

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