Moody's "negative for Daewoo Shipbuilding restructuring, acid, mercury creditworthiness"

[Korea Selected financial newspaper reporters - International credit rating agency Moody's was diagnosed as negative for 30 days treatment creditworthiness of the banking industry and the Export-Import Bank structural adjustments of the government and creditors on the Offshore & Shipbuilding.

Moody's predicts that the "mountain and the mercury is to pay at least half of Daewoo Shipbuilding additional funding 2.9 trillion won in accordance with the restructuring plan, it said" the two banks will result in more money appropriated 'from the day the report.

Jipeot report is that "the two banks of Daewoo Shipbuilding loans 'provisioning need to earn a minimum of 7%, and in the case be classified as' fixed under precautionary, and you need to earn a 20% classified as".

Following reports were analyzed and Daewoo Shipbuilding will be considered to be insolvent without additional financial support from creditor banks, said, "The possibility of securing provision applicable under very high.

Moody the equity swap comprises Restructuring also can increase the expected loss rate was described as negative for the credit rating of the acid and mercury.

In addition, the report contains the Seine that new funds 2.9 trillion won also the possibility of re-equity swap is "can result in losses that negatively affect the credibility of the two banks' he predicted.

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