Moody's rates Kookmin Bank notes A2

Moody's Investors Service said it assigned an A2 foreign-currency long-term senior rating, an A2 subordinated debt rating and a prime-1 short-term debt rating to Kookmin Bank's updated $8 billion global medium-term note program. The agency also said it assigned an A2 rating to the bank's proposed dollar benchmark senior unsecured notes drawdown under the program.

The outlook is stable.

The program allows for the issuance of various classes of securities, including senior notes, as well as lower tier II and upper tier II subordinated notes, the agency said. The rating is subject to the receipt of final documents.

The ratings reflect the bank's leading position as Korea's largest bank and dominant retail banking franchise, Moody's said.

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