Fitch affirms Hana

Fitch Ratings said it affirmed Hana Bank's long-term foreign currency issuer default rating at A- with a stable outlook and affirmed its support rating at 1, support rating floor at A- and individual rating at C.

The agency said it has simultaneously downgraded Hana's hybrid securities to BB+ from BBB-.

According to Fitch, the affirmation of Hana's issuer default rating, support rating and support rating floor reflects the agency's continued belief of an extremely high propensity for support from the South Korean government, if required, given its systemic importance as one of the major commercial bank in the county.

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