S&P Credit Research



Title:

Korea Exchange Bank's $2 Billion Euro CP Program Rated 'A-2'

Price:$100.00
Publication Date:May 08, 2008
Report Type:News
Abstract:TOKYO (Standard&Poor's) May 9, 2008--Standard&Poor's Ratings Services today assigned its 'A-2' rating to Korea Exchange Bank's (KEB; BBB+/Stable/A-2) proposed $2 billion Euro commercial paper (CP) program. The rating on the program is subject to final documentation. The ratings on KEB reflect the competitive strengths of its international trade finance and foreign exchange operations, its good asset quality, and adequate capitalization. The constraining factors on the bank's ratings are its relatively weak domestic market position compared to its major competitors and uncertainty over its shareholding structure. KEB was established in 1967 by the Korean government (Foreign: A/Stable/A-1; Local: A+/Stable/A-1) as a specialized bank focusing on foreign exchange and international trade finance. These are fields in which the
Ticker:0494@KS
Issuer:Korea Exchange Bank
GICS:Diversified Banks (40101010)
Sector:Global Issuers, Financial Institutions
Country:Korea
Region:Emerging Markets
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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