Moody’s rates Kookmin unit notes Aa3

Moody’s Investors Service said it assigned an Aa3 rating to the proposed dollar backed senior notes to be issued by Lotte Property & Development Co., Ltd. and guaranteed by Kookmin Bank (Aa3 stable, a3).

Lotte Property & Development plans to use the proceeds mainly to finance or refinance new and/or existing eligible assets or eligible projects as defined in the sustainability bond framework.

The Aa3 rating on the proposed notes reflects the Aa3(cr) long-term counterparty risk assessment assigned to Kookmin Bank, because Kookmin Bank provides an unconditional and irrevocable guarantee on the notes, the agency said.

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