Moody's rates Korea Exchange notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Korea Exchange Bank's proposed dollar-denominated subordinated debt notes to be drawn from its $4 billion global medium-term note program.

The outlook is stable.

Moody's said the rating incorporates one notch of systemic support which is an exception to Moody's standard practice of rating subordinated debt one notch below KEB's adjusted baseline credit assessment of baa1. This reflects a one-notch uplift for support from its parent, Hana Financial Group (unrated), through its flagship subsidiary, Hana Bank (A1 stable, C-/baa1 stable).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.