Fitch affirms Korea Exchange Bank

Fitch Ratings said it affirmed Korea Exchange Bank's long-term foreign-currency issuer default rating at A-.

The outlook is stable.

The ratings reflect the bank's high potential of support from the government, if required, given its systemic importance as one of the main commercial banks, Fitch said.

The rating also consider its historically strong local franchise in providing trade finance and foreign-exchange services to trading and export-oriented businesses, the agency said.

The bank's profitability is expected to decline in the medium-term given its plan to actively sell-down its equity investments over the next few years, Fitch added.

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