Moody’s: KEB Hana Bank CD program A1

Moody's Investors Service said it assigned a provisional A1 foreign currency long-term rating and a provisional P-1 short-term rating to KEB Hana Bank's $5 billion certificate of deposit program.

KEB Hana Bank is effecting the issuance through its Hong Kong branch, London branch and Singapore branch.

Given that KEB Hana Bank Hong Kong branch, London branch and Singapore branch are the same legal entity as KEB Hana Bank, the agency assigned a rating of provisional A1/provisional P-1, in line with the ratings of KEB Hana Bank.

In line with the long- and short-term counterparty risk assessments, Moody's assigned a long-term counterparty risk assessment of Aa3(cr) and short-term counterparty risk assessment of P-1(cr) to KEB Hana Bank Hong Kong branch, KEB Hana Bank London branch and KEB Hana Bank Singapore branch.

The outlooks are negative.

Moody's aligned the ratings of the CD program with the bank's foreign currency long-term and short-term bank deposit ratings. The alignment reflects two primary considerations: (a) The instruments issued under the program will be direct, unconditional, unsecured, and unsubordinated obligations of KEB Hana Bank; and (b) the instruments will rank pari passu with all other direct, unconditional, unsecured and unsubordinated present and future obligations of KEB Hana Bank.

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