Moody's rates Khan Bank notes Baa3, Ba1, Ba2

Moody's Investors Service said it assigned to Khan Bank a Baa3 local-currency issuer rating and Ba2 foreign-currency issuer rating, along with Baa3 and Ba1 ratings to the local-currency senior and subordinated notes in its proposed $300 million global medium-term notes program and Ba2 ratings to the foreign-currency senior and subordinated notes in the program.

The outlook is stable.

The ratings are contingent upon receipt of final documents.

The foreign-currency issuer rating is two notches below the local-currency issuer rating because of country ceiling constraints on foreign-currency debt, Moody's said.

The ratings also reflect the bank's leading positions in consumer, micro- and small-business finance, its dominant market shares in loans and deposits, stable and experienced management team, strong profitability and improving asset quality, the agency said.

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