Standard&Poor's bases its ratings on CKI on the bank's 'bbb+' anchor stand-alone credit profile (SACP), adequate business position, adequate capital and earnings, adequate risk position, average funding, adequate liquidity, as well as extraordinary government support. The SACP on CKI is 'bbb+'. Our bank criteria use the BICRA economic risk and industry risk scores to determine a bank's anchor SACP, the starting point in assigning an issuer credit rating (ICR). The anchor SACP for a bank operating only in Korea is 'bbb+'. The BICRA score reflects our evaluation of economic risk. We view Korea as a resilient and diverse economy with relatively strong growth prospects and few economic imbalances. Nonetheless, we believe high leverage in the private sector could
