Moody's ups Kookmin Bank

Moody's Investors Service said it upgraded to Aa1 from Aa2 the $1 billion senior guaranteed bonds due 2014 issued by Kookmin Bank, which has A1, prime-1 and C- ratings. The agency said it kept the 'timely payment indicator' (TPI) for the covered bonds at probable-high.

The upgrade was prompted by the recent decision to upgrade Kookmin Bank's foreign-currency long-term senior debt rating to A1 from A2, Moody's said.

The upgrade also is in line with the upgrade to the government of Korea's bond ratings to A1 from A2, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.