S&P: Korea Development Bank bonds A

Standard & Poor's said it assigned an A rating to Korea Development Bank's proposed senior unsecured samurai bonds.

The rating is subject to final documentation.

The proceeds will be used for repayments of medium- and long-term foreign-currency denominated debts and the bank's operating activities.

The notes will constitute direct, unconditional, unsecured and unsubordinated obligations of the bank, S&P said.

They will rank pari passu with all other unsecured and unsubordinated obligations of the bank.

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