TOKYO (Standard&Poor's CreditWire) Dec. 19, 2000--Standard&Poor's today revised its outlook on the long-term ratings on Hanvit Bank to positive from stable. At the same time, Standard&Poor's affirmed its double-'B'-minus long-term and single-'B' short-term counterparty credit ratings on the bank. The outlook revision reflects a likely improvement in Hanvit's risk profile following the Korean government's announcement that the Korean Deposit Insurance Corp. (KDIC) will inject fresh capital into Hanvit after the bank cancels all of its existing equity shares, and that Hanvit will become a subsidiary of a KDIC-led holding company. Besides Hanvit, four other smaller banks, Peace Bank, Kwangju Bank, Cheju Bank, and Kyongnam Bank, will undergo the same procedure. The government had earlier
