• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Korea's Chohung Bank Assigned 'BB/B' Ratings; Outlook Stable Mar 00 Product Image

Korea's Chohung Bank Assigned 'BB/B' Ratings; Outlook Stable Mar 00

  • ID: 1832047
  • March 2000
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's CreditWire) March 14, 2000--Standard & Poor's today assigned its double-'B' long-term and 'B' short-term counterparty credit ratings to Korea's Chohung Bank. The outlook on the long-term rating is stable. Chohung's operating profitability (including trading income) surpasses the domestic average, while the bank's ratio of net nonperforming assets to published equity is lower than that of its close peers. These factors, together with Chohung's established retail and middle-market franchise, indicate that the bank is able to compete effectively with most of its peers in Korea. Nonetheless, like most other local banks, Chohung needs to address its high residual nonperforming loans and continue to strengthen its capital. While continued high credit provisioning expenses caused Chohung to report a...

Companies mentioned in this report are:
- 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.

Note: Product cover images may vary from those shown

RELATED PRODUCTS