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Korea-based Woori Bank's US$300 Million Unsecured Fixed Rate Notes Rated 'BBB' Nov 04

  • ID: 2044044
  • November 2004
  • Standard & Poors
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TOKYO (Standard & Poor's) Nov. 24, 2004--Standard & Poor's Ratings Services today assigned its 'BBB' rating to Woori Bank's (Woori; BBB/Stable/A-2) proposed US$300 million senior unsecured fixed rate notes to be priced and drawn down from its US$4.0 billion Global MTN program. In view of the typical convergence of business risks that occur among subsidiaries of a common holding company, the ratings on Woori Bank take into consideration the collective credit profiles of Woori Finance Holding Co. Ltd.'s (WFH) major operating subsidiaries. "The supporting factors for the ratings on Woori are its good market position, which helps it maintain a satisfactory net interest margin and stable funding base, and its improving risk management skills. Over the medium term, Woori should...

Companies mentioned in this report are: Woori 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
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Woori Bank

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