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KDB's new bonds assigned A by S&P
Writer : Sender
Jun 22, 2010
The global credit appraiser Standard & Poor's said Monday it has assigned "A" to bonds soon to be issued by the state-run Korea Development Bank (KDB).
The rating was given to KDB's proposed senior unsecured Japanese yen-dominated global notes. The size and tenure of the issuance have yet to be determined.
The rating reflected an extremely high likelihood that the South Korean government would provide timely and sufficient support to the bank in the event of financial distress, the credit appraiser said.
KDB, 100 percent owned by the government, was set up in 1954 to provide financing to local firms for facility investments. It is one of the five affiliates under KDB Financial Group Inc. established in October last year.
Under its blueprint of privatization, KDB Financial Group will seek to list its shares on the Seoul bourse in 2011 and on overseas stock markets in 2012.
(Source: Yonhap News)
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