Six Korean Banks Upgraded on Receding Asset Quality Concerns Sep 02

Standard & Poors, September 2002

Abstract
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),Korea Exchange Bank,Standard Chartered Bank Korea Ltd.,Shinhan Bank,Kookmin Bank,Woori Bank
Action: Upgraded

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),Korea Exchange Bank,Standard Chartered Bank Korea Ltd.,Shinhan Bank,Kookmin Bank,Woori Bank

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