Industrial Bank of Korea’s Ratings Affirmed; Outlook Remains Stable
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Summary
Ref: KR0171 9 CRA00- 01 10 November 2020
Industrial Bank of Korea’s Ratings Affirmed; Outlook Remains Stable
Capital Intelligence (CI Ratings) t oday announced that it has affirmed the L ong- T erm Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating ( ST FCR ) of Industrial Bank of Korea (IBK) at ‘A+’ and ‘A1’ , respectively . At the same time, CI Ratings has affirmed IBK’ s Bank Standalone Rating (BSR) and Core Financi al Strength (CFS) rating of ‘a+’. The Outlook for the ratings remains Stable.
The Bank’s LT FCR is at the same level as the BSR , and is constrained by CI’s internal assessment of sovereign credit risk for South Korea. The E xtraordinary Support Level (ESL) of Very High reflects the Bank’s majority government ownership and policy role, as well as the solvency protection of the government as mandated under the IBK Act.
IBK ’s BSR is derived from a…