Moody's rates Korea Development Bank bond Aa3

Moody's Investors Service said it assigned an Aa3 rating to Korea Development Bank dollar-denominated senior bond due 2014 under the U.S. SEC-registered shelf program. The rating is on review for possible downgrade.

This debt is not being issued under the Korean government's guarantee program for external debts, Moody's said. The rating is subject to receipt of final documents.

The rating reflects the bank's special status as Korea's primary developmental finance institution, Moody's said.

It also plays a critical role in the country's reform efforts as it provides funds to restructuring corporations with liquidity needs, the agency said. Its policy function ensures strong government support, Moody's added.

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