TOKYO (Standard & Poor's) July 25, 2003--Standard & Poor's Ratings Services today placed its 'BB' long-term counterparty credit ratings on Korea Exchange Bank (KEB) on CreditWatch with positive implications due to the increased likelihood that KEB's capitalization will be strengthened by sales of new stock to a potential buyer. The 'B' short-term rating on KEB was affirmed. As KEB has confirmed that negotiations with a potential buyer are under way, the probability of a change in the bank's ownership is assessed as higher. "The direction of negotiations between KEB, shareholders, and the potential buyer will be clearer within the next few months," said Standard & Poor's credit analyst Young Il Choi. Although the media has reported Lone Star as the...
Companies mentioned in this report are:
- KEB Hana Bank
- Commerzbank AG
- Export-Import Bank of Korea
Action: On CreditWatch:Positive
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Research type: News
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