Moody's rates Shinhan Bank hybrid Baa2

Moody's Investors Service said it assigned a Baa2 rating to South Korea-based Shinhan Bank's proposed hybrid tier 1 securities, which are non-cumulative and mature in 2036 with automatic 30-year extensions if they are not redeemed.

The outlook is positive.

Moody's said the rating is underpinned by the subordination and equity characteristics of the securities and by the bank's relatively healthy financial condition.

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