Moody's rates Korea Development Bank's bond Aa3

Moody's Investors Service said it assigned an Aa3 rating to Korea Development Bank's senior unsecured bond issue due January 2013.

The outlook is stable.

The rating reflects the bank's special status as Korea's primary developmental finance institution, Moody's said. The bank functions as a conduit for funds derived from domestic and foreign sources that are channeled to strategic and often under-served sectors of the Korean economy, the agency said.

The bank also plays a critical role in the country's reform efforts and policy function ensures strong government support, Moody's added.

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