Moody's rates Kookmin Bank notes Aa3

Moody's Investors Service said it assigned an Aa3 rating to Kookmin Bank's proposed issuance of two tranches of senior securities: Kookmin Bank Japanese Yen bonds - first series (2008) and Kookmin Bank Japanese yen floating-rate bonds - first series (2008). The rating is subject to receipt of final documents.

The outlook is stable.

The ratings reflect Kookmin Bank's leading position as Korea's largest bank and dominant retail banking franchise, Moody's said. The bank also enjoys moderate financial fundamentals, as indicated by its C bank financial strength rating, the agency said.

The ratings also incorporate Moody's assessment that the probability of support by the Korean government in a systemic crisis would be very high.

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