Moody's ups Korea Exchange Bank strength to D-

Moody's Investors Service said it raised Korea Exchange Bank's bank financial strength rating (BFSR) to D- from E+. The outlook is stable.

All other ratings - senior/subordinated debt of Baa2/Baa3 and long-term/short-term deposit of Baa2/Prime-3 with stable outlook - are unaffected.

Moody's said the rating action reflects the bank's improved, although still weak, financial fundamentals.

At the same time, the bank is supported by the positive developments in its economic solvency, stabilizing operating performance and healthier asset quality, according to Moody's.

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