Korean banks face fresh pressure after Moody's downgrade

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Moody's Investors Service lowered the bank financial strength ratings (BFSR) of South Korea's big four banks - Kookmin, Woori, Shinhan Bank and Hana Bank - to 'C-' from 'C' last month due to concerns about small-to medium-size enterprise (SME) exposures. "The financial difficulties of SMEs represent a threat to the banks. Delinquencies in this segment - which account for between 25% and 45% of loan books - are rising," said Moody's in its May review, adding non-performing loan (NPL) ratios more

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