Moody's ups 10 Korea banks

Moody's Investors Service said it raised the foreign-currency senior debt and foreign-currency long-term deposit ratings of 10 Korean financial institutions to A1 from A2.

The upgrades were in line with the upgrade of Korea's ratings, the agency said.

Export-Import Bank of Korea (Kexim)'s foreign-currency long-term senior debt rating was raised to A1 from A2. The foreign-currency short-term debt rating of prime-1 was unaffected. The outlook is stable.

Hana Bank's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. Its bank financial strength of C, baseline credit assessment of Baa1, global local-currency deposit rating of A1, foreign-currency long-term subordinated/junior subordinated debt rating of A2 and foreign-currency short-term deposit of prime-1 were unaffected. The outlook is stable.

Industrial Bank of Korea's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. Those ratings have a stable outlook. The ratings that were unaffected include its bank financial strength rating of D+, which has a negative outlook, baseline credit assessment of Baa3, foreign-currency long-term subordinated/junior subordinated debt of A2 and foreign-currency short-term deposit of prime-1.

Kookmin Bank's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. Its bank financial strength rating of C-, baseline credit assessment of Baa1, global local-currency deposit rating of A1, foreign-currency long-term subordinated/junior subordinated debt of A2 and foreign-currency short-term deposit of prime-1 were unaffected. The outlook is stable.

Korea Development Bank's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. Those ratings carry a negative outlook. The ratings that were unaffected include its global local-currency deposit rating of A1 (negative outlook), bank financial strength rating of D, baseline credit assessment of Ba2 and foreign-currency short-term deposit of prime-1. Those ratings have a stable outlook.

Korea Finance Corp.'s foreign-currency long-term issuer rating was raised to A1 from A2. Its foreign-currency short-term issuer rating of prime-1 was unaffected. The outlook is stable.

Korea Housing Finance Corp.'s foreign-currency long-term issuer rating was raised to A1 from A2. Its foreign-currency short-term issuer rating of prime-1 was unaffected. The outlook is stable.

National Agricultural Cooperative Federation's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. The ratings unaffected include its bank financial strength rating of D+, and baseline credit assessment of Ba1, foreign-currency long-term subordinated/junior subordinated debt of A2 and foreign-currency short-term deposit of prime-1 (stable outlook). The outlook is negative.

Shinhan Bank's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. Its bank financial strength rating of C-, baseline credit assessment of Baa1, foreign-currency long-term subordinated/junior subordinated/hybrid tier 1 debt ratings of A2/A2/Ba1 and foreign-currency short-term deposit ratings of A2/prime-1 were unaffected. The outlook is stable.

Woori Bank's foreign-currency long-term senior debt rating was raised to A1 from A2 and foreign-currency long-term deposit rating to A1 from A2. Its bank financial strength rating of C-, baseline credit assessment of Baa2, foreign-currency long-term subordinated/junior subordinated/hybrid Tier 1 debt ratings of A2/A3/Ba2 and foreign-currency short-term deposit ratings of A2/prime-1 were unaffected. The outlook is stable.

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