The rating actions follow the conversion of KB Insurance into a wholly owned subsidiary of the KB Financial Group Inc. (KB Group) and the company’s subsequent delisting from the Korea Exchange. The KB Group previously owned 39.81% of KB Insurance’s shares.
Tuesday 25 July 2017
A.M. BEST REMOVES FROM UNDER REVIEW WITH POSITIVE IMPLICATIONS AND UPGRADES CREDIT RATINGS OF KB INSURANCE CO., LTD.
HONG KONG, July 24 (Bernama-BUSINESS WIRE) -- A.M. Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of KB Insurance Co., Ltd. (KB Insurance) (South Korea). The outlook assigned to these Credit Ratings (ratings) is stable.
The rating actions follow the conversion of KB Insurance into a wholly owned subsidiary of the KB Financial Group Inc. (KB Group) and the company’s subsequent delisting from the Korea Exchange. The KB Group previously owned 39.81% of KB Insurance’s shares.
The rating actions follow the conversion of KB Insurance into a wholly owned subsidiary of the KB Financial Group Inc. (KB Group) and the company’s subsequent delisting from the Korea Exchange. The KB Group previously owned 39.81% of KB Insurance’s shares.
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