Moody's rates Korea Development bonds A3

Moody's Investors Service said it has assigned an A3 rating to the Korea Development Bank (KDB)'s ¥30 billion bond issuance - Twenty-fourth series - 2006 - due 2011.

The outlook is positive.

Moody's said the rating reflects KDB's special status as Korea's primary developmental finance institution. The bank functions as a conduit for funds derived from domestic and foreign sources that are channeled to strategic, and often under-served, sectors of the Korean economy.

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