...HONG KONG (Standard & Poor's) Feb. 11, 2015--Standard & Poor's Ratings Services today said that its 'A-' issuer credit rating on Korea-based Woori Bank is unaffected after the bank released weak preliminary results for its fourth quarter. However, Woori's '###' stand-alone credit profile (SACP) could come under pressure if the bank's capitalization deteriorates significantly further from current levels, such that we project the bank's risk-adjusted capital (RAC) ratio will fall and remain below 5% for the coming one to two years. On Feb. 5, 2015, Woori posted a net loss for the fourth quarter of 2014 of about Korean won (KRW) 163 billion, mainly due to high provisioning costs related to some large corporate exposures in weak sectors such as construction, shipping, and shipbuilding. At the same time, Woori disclosed that the bank's capitalization has weakened considerably, partly due to the merger with its holding company, Woori Finance Holdings (WFH), as of Nov. 1, 2014. Woori disclosed...
