S&P Takes Rating Actions on Three Korean Banks Jan 99

  • ID: 2044597
  • January 1999
  • Standard & Poors
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NY -- Standard & Poor's CreditWire 1/15/1999 -- Standard & Poor's today affirmed its long-term rating of double -'B'-plus and short-term rating of single-'B' on Housing & Commercial Bank (HCB) and its long-term rating of single-'B' and short-term rating of single-'C' on Korea First Bank (KFB). Additionally, Standard & Poor's assigned its long-term rating of single-'B'-plus and short-term rating of single-'C' to Hanvit Bank, an entity formed from the merger between Hanil Bank (rated B+/C) and Commercial Bank of Korea (rated Bpi). The rating outlook for KFB is developing, while for HCB and Hanvit it is negative. As a result of these rating actions, the ratings of HCB and Hanil Bank were removed from CreditWatch Negative, where Hanil was placed...

Companies mentioned in this report are: Standard Chartered Bank Korea Ltd.,H&CB,Woori Bank
Action: Affirmed

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.

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Standard Chartered Bank Korea Ltd.,H&CB,Woori Bank

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