Fitch rates Korea Development Bank issue A+

Fitch Ratings said it assigned an expected rating of A+ to Korea Development Bank's planned senior unsecured, dollar-denominated five-year debt issue. The issue size is yet to be confirmed.

The expected rating is the same as the bank's long-term foreign-currency issuer default rating of A+ with stable outlook, which is the same as the Korean sovereign's issuer default rating, reflecting the bank's quasi-sovereign status.

A leading policy bank and wholly owned by the Korean government, the bank supports government policy by funding industrial development and raising funds on behalf of the government in the international markets, Fitch said.

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