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SINGAPORE: MOODY'S ASSIGNS BAA2 TO SHINHAN BANK'S PROPOSED SUBORDINATED NOTES.
IPR Strategic Business Information Database, August, 2003
Moody's Investors Service assigned a Baa2 rating to Shinhan Bank's proposed US dollar 250 million Upper Tier II Subordinated Notes issuance due 2013, under the US dollar 2 billion Global Medium Term Note Programme. The outlook for the rating is stable. Note that this rating is subject to receipt of final documentation, the terms and conditions of which have not changed in any material way from the draft documents we reviewed.
The rating reflects Shinhan Bank's entrenched position in the market as a retail bank, healthy financial fundamentals, good management, and a focused, well-defined strategy. These factors are offset by challenges the bank faces to maintain its competitive position in a changing industry and landscape amidst a volatile operating...
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