(The following was released by the rating agency)
HONG KONG (Standard & Poor's) Jan. 15, 2013--Standard &
Poor's Ratings Services today assigned its 'A' rating to Korea
Development Bank's (KDB; foreign currency A/Stable/A-1; local
currency --/--/A-1) shelf registration drawdown of proposed U.S.
dollar-denominated senior unsecured bonds. The rating is subject
to final documentation on the bonds.
KDB intends to use the bond proceeds for the bank's general
operations, including extending foreign currency loans and
repaying maturing debt and other obligations. The bonds will
constitute direct, unconditional, unsecured, and unsubordinated
obligations of the bank. They will rank pari passu with all
other unsecured and unsubordinated obligations of the bank.
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