Moody's may up Korea First Bank

Moody's Investors Service said it placed on review for possible upgrade Korea First Bank's ratings, including its Baa3/Ba1 senior/subordinated debt ratings, Baa3/Prime-3 long-term/short-term deposit ratings and D bank financial strength rating.

Moody's said this action follows the announcement of the proposed acquisition of Korea First Bank by Standard Chartered plc (rated A3).

The advantages are likely to enhance Korea First Bank's own franchise and prospects in the future, according to Moody's. In addition, the backing of a strategic investor as opposed to a financial one is positive from the perspective of receiving potential support.

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