Korea Development Bank’s Ratings Affirmed; Stable Outlook

Korea Development Bank’s Ratings Affirmed; Stable Outlook

Capital Intelligence (CI Ratings or CI ) today announced that it has affirmed the Long- Term Foreign Currency Rating (LT FCR) and Short- Term Foreign Currency Rating (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 of the LT FCR and BSR is Stable.

KDB’s LT FCR and BSR are in line with CI’s internal assessment of sovereign credit risk for South Korea given the ESL of Very High . The latter and the ratings largely reflect the Bank’s full government ownership and its policy role to supply capital to develop the South Korean industry. Under the Korea Development Bank Act (KDB Act), the Bank’s mandate and role include supporting the implementation of government policy,…