ID :
44859
Mon, 02/09/2009 - 13:41
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https://www.oananews.org//node/44859
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Moody's cuts ratings for 10 Korean lenders
SEOUL, Feb. 9 (Yonhap) -- Global credit appraiser Moody's Investors Service said Monday it downgraded its credit ratings for 10 South Korean banks, including Kookmin Bank, citing their dependence on the government to secure funding.
"The above rating actions concluded the review initiated on Jan. 15 to consider
the appropriateness of the banks' foreign currency debt ratings vis-a-vis the
Korean government's given the banks' heavy dependence on government support to
secure external funding," Moody's said in a statement.
In mid-January, the credit rating agency placed the financial firms under review
for a possible downgrade.
"The above rating actions concluded the review initiated on Jan. 15 to consider
the appropriateness of the banks' foreign currency debt ratings vis-a-vis the
Korean government's given the banks' heavy dependence on government support to
secure external funding," Moody's said in a statement.
In mid-January, the credit rating agency placed the financial firms under review
for a possible downgrade.
