Woori Bank's long-term credit rating raised to A by Fitch
Published: 30 Jul. 2021, 15:24
Fitch had kept the bank's long-term issuer default rating at A- since 2005.
The ratings agency said the upgrade reflected its "belief of an extremely high probability of support from the Korean government, if required," adding that its view was "based on Woori's systemic importance as one of the country's largest commercial banks, holding 12 percent of the banking system's total loans and 14 percent of deposits."
BY KIM JEE-HEE [[email protected]]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)