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Fitch affirms Korea Development Bank
Fitch Ratings said it affirmed Korea Development Bank's long-term foreign-currency issuer default rating at A+, short-term foreign-currency issuer default rating at F1, senior unsecured debt rating at A+ and short term debt rating at F1.
The outlook is stable.
The ratings reflect expectations of an extremely high probability of government support and are equalized with South Korea's sovereign ratings, Fitch said.
Law obliges the Korean government to replenish any deficits at the bank if its capital reserve funds fail to cover them, the agency said.
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