Moody's rates Shinhan debt A1/A2

Moody's Investors Service said it assigned provisional A1/provisional A2 long-term senior/subordinated debt ratings and provisional Prime-1 short-term rating to Shinhan Bank's A$2 billion debt instrument issuance program.

Moody's also assigned an A1 rating to the proposed senior notes to be issued by Shinhan Bank, and which would be a drawdown from the program.

The outlook is stable.

Moody's said the ratings incorporate two factors: (a) the bank's standalone financial strength rating of C-, which maps to a Baa1 standalone credit profile on the long-term scale; and (b) Moody's assessment of the very high probability of government support.

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