S&P rates Kookmin bonds A

Standard & Poor's said it assigned A ratings to Kookmin Bank's (A/stable/A-1) two proposed senior unsecured samurai bonds, consisting of floating-rate three-year senior unsecured samurai bonds due 2011 and fixed-rate three-year senior unsecured samurai bonds due 2011.

Ratings reflect a strong franchise and leading market position in Korea's domestic banking sector, according to the agency.

Ratings also reflect relatively low funding costs, higher net interest margins, adequate funding and liquidity and improvements in the bank's overall credit profile over the past few years, S&P said.

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