Shinhan Bank's US$250 Million Junior Sub Notes Rated 'BB+' Sep 03
Standard & Poors, September 2003
Abstract
TOKYO (Standard & Poor's) Sept. 2, 2003--Standard & Poor's Ratings Services today assigned its 'BB+' rating to Shinhan Bank's (BBB/Stable/A-2) proposed US$250 million junior subordinated notes (Upper Tier II capital) to be priced this week and to be drawn down from its US$2.0 billion global medium term note program. The two-notch differential between Shinhan's counterparty rating and the rating on the proposed notes reflects the deferability of coupon payments, the terms and conditions of the proposed subordinated notes, and the overall financial status of the bank. The rating on Shinhan reflects its relatively good asset quality and stable profitability. Shinhan's ratio of gross problem credit (classified as precautionary or below) to total credit rose slightly to 4.15% at June 2003...
Companies mentioned in this report are: Shinhan Bank (Old),Shinhan Bank
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Shinhan Bank (Old),Shinhan Bank
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