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S&P rates Korea Development Bank bonds A
Standard & Poor's said it assigned its A senior unsecured long-term foreign currency debt rating to Korea Development Bank's (KDB, foreign currency A/stable/A-1, local currency A-1) ¥30 billion of 1.74% series 24 samurai bonds due June 7, 2011.
The agency said its issuer credit ratings on KDB are based on the bank's public policy role as the primary governmental financial institution that extends medium- to long-term financial facilities to support the industrial policy objectives of the government of the Republic of Korea (foreign currency A/stable/A-1, local currency A+/stable/A-1).
"The ratings also incorporate the strong direct support from the Korean government, including capital injections and provision of loans," said S&P credit analyst Takahira Ogawa.
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