S&P rates KB Financial A

S&P said it assigned an A rating to KB Financial Group Inc.

“We see a high likelihood that KBFG will receive extraordinary government support, which would be channeled to its subsidiary Kookmin Bank, considering the bank’s high systemic importance in Korea,” said S&P in a news release.

KB Financial is rated a notch below its operating subsidiaries because of structural subordination, S&P said.

“The stable outlook on KBFG reflects our view that the group will maintain adequate capital buffer to support its business growth, and well-managed asset quality with low credit losses over the next 18-24 months,” the agency said.

© 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.