Moody's gives Kookmin bonds Aa2

Moody's Investors Service said it has assigned provisional long-term ratings of provisional Aa2 to the senior guaranteed bonds to be issued by Kookmin Bank (A2/Prime-1/C).

The agency said that the covered bonds constitute direct, unconditional and senior obligations of Kookmin Bank and are secured by a pool of assets.

The cover pool consists of residential mortgage loans and credit card receivables originated in Korea by Kookmin, Moody's noted, adding that as of the cut-off date, the balance of the mortgage loans was 2 trillion won and of the credit card receivables was 2.29 trillion won.

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