Moody's rates Hana Bank draw A1

Moody's Investors Service said it assigned an A1 rating to Hana Bank's proposed benchmark-size dollar-denominated senior unsecured drawdown under its $6 billion global medium-term note program. The rating is subject to receipt of final documents.

The outlook is stable.

The rating is underpinned by Hana Bank's moderate creditworthiness, meaningful niches in the high-end retail banking and small and medium-sized enterprise segments, Moody's said.

The ratings also consider management's success in enhancing the bank's long-term franchise value and a high cost and potentially more volatile deposit base, the agency said.

The bank's rating also reflect the possibility of constrained future capital retention due to potential acquisitions by parent, Hana Financial Group, which has ambitions to expand into non-banking businesses, Moody's said.

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