Moody's rates Korea Development Bank notes A1

Moody's Investors Service said it assigned an A1 rating to Korea Development Bank's proposed dollar-denominated benchmark-size senior unsecured notes under its $4 billion shelf program.

The outlook is stable.

The rating is underpinned by government support for the bank under the KDB Act, which requires the government to replenish the bank's deficits if its reserves are insufficient to cover losses, Moody's said.

The stable outlook reflects a view that the National Assembly in Korea is likely to take necessary action to provide it with the government guarantee stipulated in the act, the agency said.

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