Fitch gives Korea Development notes AA-

Fitch Ratings said it assigned an AA- rating to the $22 million floating-rate senior unsecured note of Korea Development Bank, Tokyo Branch.

“The rating is aligned with the branch's long-term issuer default rating (IDR). This is because the issuance represents a direct, unconditional, unsubordinated and unsecured obligation of the branch and ranks pari passu and without preference among themselves and with all other unsecured obligations. The note has been issued under KDB's $30 billion global medium-term note program,” Fitch said in a press release.

The outlook is stable.

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