S&P rates Korea Development Bank bonds A

Standard & Poor's said it assigned an A rating to Korea Development Bank's shelf registration drawdown of proposed dollar-denominated senior unsecured bonds.

The bank intends to use the bond proceeds for its general operations, including extending foreign-currency loans and repaying maturing debt and other obligations, S&P said.

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

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