Fitch upgrades KB Finansia Multi Finance

Fitch Ratings said it upgraded the national long-term rating and the senior bond rating of KB Finansia Multi Finance to AAA(idn) from AA+(idn).

“The upgrade reflects the improved credit profiles of its parent, KB Kookmin Card Co., Ltd. (KBC), and ultimate parent KB Financial Group Inc. (KBFG), which anchor its ratings. The South Korea-based group's operating performance has strengthened and become more aligned with that of Kookmin Bank (A/stable/a), the group's main operating bank,” Fitch said in a press release.

The outlook is stable.

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