Moody's affirms Korean banks

Moody's Investors Service said it maintained the stable outlook for the A1 ratings of Hana Bank, Kookmin Bank, NongHyup Bank, Shinhan Bank and Woori Bankdespite the outlook revision for Korea's sovereign ratings to positive from stable.

The outlook for the five banks is not affected by the sovereign rating action as the sovereign rating does not constrain the banks' ratings.

Moody's said the sovereign rating action has positive credit implications for the banks, given the stronger capacity of the government to support the banks, if needed.

© 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.