Summary: Woori Finance Holdings Co. Ltd. Dec 12
Standard & Poors, December 2012
Abstract
The stable outlook on Woori Finance Holdings Co. Ltd. (WFH) mainly reflects the stable outlook on Woori Bank. As Woori is the group's main operating bank, accounting for about 75% of the group's total assets, a ratings change on Woori would likely lead to a ratings change on WFH. The stable outlook on Woori reflects Standard & Poor's Ratings Services' view that potential credit risks remain manageable and that the bank is likely to be able to maintain its current level of capitalization for the next 24 months. We believe Woori will likely manage the potential rise in credit costs with current preprovisioning profit levels amid an increasingly challenging operating environment, characterized by potential pressure on the quality of household...
Companies mentioned in this report are:
- Woori Finance Holdings Co. Ltd.
Action: Review
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Woori Finance Holdings Co. Ltd.
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