Korea Development Bank ’ s Ratings Affirmed with a Stable Outlook

Ref: KR02120 CRA00- 0 1 24 November 202 1

Korea Development Bank ’ s Ratings Affirmed with a Stable Outlook

Capital Intelligence (CI Ratings or CI ) today announced that it has affirmed the L ong- T erm Foreign Currency R ating (LT FCR) and S hort- T erm F oreign C urrency R ating (ST FCR ) of Korea Development Bank (KDB) at ‘A+’ and ‘A1’ respectively. At the same time, CI Ratings has affirmed KDB’s B ank S tandalone R ating (BSR) of ‘a+’ and C ore F inancial S trength (CFS) rating of ‘a+’. The Outlook for the LT FCR and BSR is Stable.

KDB’s LT FCR , BSR and CFS rating are aligned with CI’s internal assessment of sovereign credit risk . Consequently despite the Very High Extraordinary Support Level ( ESL ) , the Bank’s LT FCR does not benefit from any uplift. The Very High ESL reflect s the Bank’s full government ownership and its policy role to supply capital…