Moody's rates Kookmin Bank notes A3

Moody's Investors Service said it assigned an A3 rating to Kookmin Bank's proposed dollar-denominated senior unsecured drawdown under its $4 billion global medium term note program.

The outlook is positive.

The rating is subject to receipt of final documentation, the terms and conditions of which would be unchanged in any material way from the draft documents Moody's has reviewed.

The ratings reflect Kookmin Bank's leading position as Korea's largest bank and dominant retail banking franchise, the agency said. The bank also enjoys moderate financial fundamentals and strong regulatory support, if needed, given the bank's size and franchise, the agency added.

The bank's other ratings include a subordinated debt rating of Baa1, short-term debt rating of prime-1, foreign- currency long-term and short-term deposit ratings of A3/prime-1 and bank financial strength rating of D+. The long-term ratings carry a positive outlook and all other ratings are stable.

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