S&P: Shinhan Bank notes A+

S&P said it assigned an A+ long-term issue rating to the $140 million senior unsecured floating-rate notes issued by Cyprus Investments Inc.

Shinhan Bank guarantees the notes, which are due Feb. 3, 2020.

The agency said it equalized the issue rating with the rating on Shinhan Bank to reflect a view that the guarantee is irrevocable and unconditional, ensures timely payment and qualifies for rating substitution treatment.

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