S&P rates 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 bank intends to use the proceeds for repayments of foreign-currency-denominated debt and general corporate purposes.

The notes will constitute direct, unconditional, unsecured and unsubordinated obligations of the bank and rank pari passu with all other unsecured and unsubordinated obligations of the bank, S&P said.

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