Moody's rates Korea Development Bank bond A3

Moody's Investors Service said it assigned an A3 rating to the Korea Development Bank's ¥30 billion bond issuance due 2010.

The outlook is stable.

The agency said the rating reflects the bank's special status as Korea's primary developmental finance institution, acting as a conduit for funds derived from domestic and foreign sources that are channeled to strategic sectors.

Other bank ratings, according to Moody's, include long-term and short-term deposit of A3/prime-2 and E+ bank financial strength rating.

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