Moody’s reviews Woori Bank

Moody's Investors Service said it affirmed the ratings and assessments of KEB Hana Bank, Kookmin Bank and Shinhan Bank.

The agency also revised the outlook KEB Hana Bank and Shinhan Bank to stable from negative and maintained Kookmin Bank stable.

In addition, Moody's placed all of Woori Bank's long-term ratings, long-term counterparty risk assessment, baseline credit assessment (BCA) and adjusted BCA of baa3 under review for upgrade. It also affirmed the short-term ratings and short-term counterparty assessment.

“The affirmation of the ratings and assessments for KEB Hana Bank, Kookmin Bank and Shinhan Bank, as well as the placing of Woori Bank under review for upgrade, reflect the improved operating environment of the banks,” Moody’s said in a news release.

“Korea as an open export-driven economy is one of the key beneficiaries of the synchronized global economic expansion.

“Moody's expects Korea's real GDP to grow at 3% in 2017 and 2.8% in 2018, which is higher than the other G20 advanced countries,” the agency added in the release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.