TOKYO (Standard & Poor's) Sept. 25, 2002--Standard & Poor's Ratings Services said today that it had raised its credit ratings on six Korean banks based on recent improvement in the financial profile of the Korean corporate sector, which together with measures taken by the Korean government and the banking sector should limit any resurgence of asset quality problems. The ratings actions on the six banks are: To From Chohung Bank BB+/Positive/B BB/Positive/B Kookmin Bank BBB+/Stable/A-2 BBB/Stable/A-2 Korea Exchange Bank BB/Stable/B BB-/Positive/B Korea First Bank BBB-/Stable/A-3 BB+/Positive/B Shinhan Bank BBB+/Stable/A-2 BBB/Stable/A-2 Woori Bank BB+/Positive/B BB/Positive/B Korean banks have succeeded in reducing their problem loans. The average ratio of problem assets, defined as precautionary and below, to total lending at the six...
Companies mentioned in this report are:
- Shinhan Bank (Old)
- KEB Hana Bank
- Standard Chartered Bank Korea Ltd.
- Shinhan Bank
- Kookmin Bank
- Woori Bank
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