Subordinated Tranche Of Woori Bank GMTN Program And Basel III Tier 2 Subordinated Bonds Upgraded To 'BBB-' - S&P Global Ratings’ Credit Research

Subordinated Tranche Of Woori Bank GMTN Program And Basel III Tier 2 Subordinated Bonds Upgraded To 'BBB-'

Subordinated Tranche Of Woori Bank GMTN Program And Basel III Tier 2 Subordinated Bonds Upgraded To 'BBB-' - S&P Global Ratings’ Credit Research
Subordinated Tranche Of Woori Bank GMTN Program And Basel III Tier 2 Subordinated Bonds Upgraded To 'BBB-'
Published Sep 26, 2014
Published Sep 26, 2014
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

HONG KONG (Standard&Poor's) Sept. 26, 2014--Standard&Poor's Ratings Services today said that it has raised to 'BBB-' from 'BB+' its program ratings on Woori Bank's (Woori; A-/Stable/A-2) subordinated tranche of US$7 billion global medium-term note (GMTN) program and its issue rating on the bank's US$1 billion Basel III Tier 2 subordinated bonds with a fixed coupon rate of 4.75%, due April 30, 2024. Woori had drawn down the US$ 1 billion bonds from the US$7 billion GMTN program on April 30, 2014. Our upgrade primarily reflects our view that these Basel III instruments now face a lower default risk after Korea's financial regulator recently changed its stance on the nonviability event trigger. Due to the change, we

  
Report Type:

Ratings Action

Ticker
0003@KS
Issuer
Woori Bank
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Structured Finance
Country
Korea
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Subordinated Tranche Of Woori Bank GMTN Program And Basel III Tier 2 Subordinated Bonds Upgraded To 'BBB-'" Sep 26, 2014. Alacra Store. May 11, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Subordinated-Tranche-Of-Woori-Bank-GMTN-Program-And-Basel-III-Tier-2-Subordinated-Bonds-Upgraded-To-BBB-1361266>
  
APA:
S&P Global Ratings’ Credit Research. (). Subordinated Tranche Of Woori Bank GMTN Program And Basel III Tier 2 Subordinated Bonds Upgraded To 'BBB-' Sep 26, 2014. New York, NY: Alacra Store. Retrieved May 11, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Subordinated-Tranche-Of-Woori-Bank-GMTN-Program-And-Basel-III-Tier-2-Subordinated-Bonds-Upgraded-To-BBB-1361266>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.