Fitch rates Korea Development Bank notes A+

Fitch Ratings said it assigned the Korea Development Bank's proposed long-term senior unsecured dollar-denominated notes an expected A+ rating to be issued under the bank's existing $4 billion shelf program.

The expected rating is the same as the long-term foreign-currency issuer default rating, which in turn is equalized with the issuer default rating of South Korea's sovereign, reflecting the solvency guarantee.

The issuer is one of the key policy banks in South Korea and is 100%-owned by the government.

The issue size and tenor have yet to be determined.

Proceeds will be used for general operations, including repayment of maturing debt and other obligations.

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