TOKYO (Standard&Poor's) Aug. 29, 2003--Standard&Poor's Ratings Services today assigned its 'BBB-' rating to Woori Bank's (BBB-/Stable/A-3) proposed US$300 million senior unsecured fixed rate notes, with a maturity of five years, to be priced and drawn down from its US$2.0 billion Euro MTN program next week. The rating on Woori Bank reflects its more disciplined credit practices and heightened earnings potential achieved through cross-selling the products of its sister companies. "Over the medium term, Woori Bank should be able to leverage its historically strong franchise and consequently maintain its financial profile," said Standard&Poor's credit analyst Young Il Choi. The bank's implementation of systematic credit evaluation to reduce credit risks arising in the household and small
