Fitch rates KDB floaters A

Fitch Ratings said it assigned the Korea Development Bank's (KDB) planned issue of senior unsecured floating-rate notes an expected rating of A.

The issue size is expected to be about €500 million.

Fitch said KDB's long-term A rating is in line with that of the Republic of Korea, reflecting the bank's quasi-sovereign status. The government of Korea is obliged under the KDB Act to maintain the bank's solvency and is, in Fitch's view, strongly committed to ensuring that the bank is able to meet its obligations in a timely manner.

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