TOKYO (Standard&Poor's CreditWire) Jan. 31, 2000--Standard&Poor's today raised its long-term counterparty credit rating on Korea's Hanvit Bank to double-'B'-minus from single-'B'-plus, and its short-term counterparty credit rating to 'B' from 'C'. At the same time, the outlook on the long-term rating was revised to stable from negative. Signs of stabilization in asset quality coupled with substantially increased loan loss provisions, enabled by the bank's US$1 billion equity raising in August 1999, indicate the worst is over for Hanvit. Additionally, the bank's adoption of more stringent nonperforming loan classifications, significantly revamped credit control procedures, and a more focused management, against the backdrop of a much improved economic environment, are factors supporting the ratings actions. The bank's asset
