S&P rates Korea Development Bank bonds A

Standard & Poor's said it assigned an A global scale rating and cnAA+ Greater China scale rating to Korea Development Bank's proposed senior unsecured Chinese renminbi-denominated bonds.

The ratings on the unsecured debt are subject to final documentation.

The bank intends to use the bond proceeds for general corporate purpose.

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

They will rank pari passu with all other unsecured and unsubordinated obligations of the bank, S&P said.

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