S&P assigns Kookmin Bank notes AAA

S&P said it assigned its AAA rating to the series 2021-1 covered bonds issued through Kookmin Bank’s $7 billion global covered bond program.

The series 2021-1 covered bonds are €500 million, fixed-rate, five-year maturity bonds with bullet principal repayments plus a one-year extendable maturity feature, during which the interest payments will become floating rate.

S&P concurrently affirmed its AAA ratings on the Kookmin’s €500 million series 2020-1 notes and the program.

The outlook is stable.

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