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
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