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| Issuer Name | Type | Series | Rating Type | Amount (100mil. won) | FS Date | Previous Rating | Current Rating | Rating Date | Report |
|---|---|---|---|---|---|---|---|---|---|
| Outlook | Outlook | ||||||||
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| BMW FINANCIAL SERVICES KOREA CO.,LTD. | SB | 1 | Rating Update |
200,000,000 (USD) |
2008/12/31 | A | Stable | A | Stable | 2009/07/02 | |
| KUMHO TIRE CO.,INC. | SB | 7 | Rating Update |
1,100 | 2008/12/31 | BBB+ | Stable | BBB | Stable | 2009/07/02 | |
| SAMHWA PAINTS IND. CO.,LTD. | SB | 8 | Rating Update |
200 | 2008/12/31 | BBB | Stable | BBB | Stable | 2009/07/02 | |
| WOORI CAPITAL CO.,LTD. | SB | 187 | Initial Rating |
600 | 2008/12/31 | | | A- | Stable | 2009/07/02 | |
| ASIANA AIRLINES INC. | SB | 57 | Rating Update |
1,000 | 2008/12/31 | BBB | Stable | BBB | Stable | 2009/07/01 | |
| ASIANA AIRLINES INC. | BW1 | 60 | Rating Update |
1,000 | 2008/12/31 | BBB | Stable | BBB | Stable | 2009/07/01 | |
| CITI GROUP CAPITAL KOREA INC. | FRN | 200 | Rating Update |
200 | 2008/12/31 | AA | Stable | AA- | Stable | 2009/07/01 | |
| CITI GROUP CAPITAL KOREA INC. | SB | 209 | Rating Update |
410 | 2008/12/31 | AA | Stable | AA- | Stable | 2009/07/01 | |
| CITIBANK KOREA INC. | SB | 13-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/07/01 | ||
| DAESANG CORP. | SB | 129 | Rating Update |
700 | 2008/12/31 | A- | Stable | A- | Stable | 2009/07/01 | |
| GS HOLDINGS CORP. | SB | 8 | Rating Update |
2,000 | 2008/12/31 | AA | Stable | AA | Stable | 2009/07/01 | |
| GS-CALTEX CORPORATION | SB | 116-2 | Rating Update |
2,000 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/07/01 | |
| HYUNDAI CAPITAL SERVICES INC. | SB | 1032 | Initial Rating |
2008/12/31 | | | AA | Positive | 2009/07/01 | ||
| INDUSTRIAL BANK OF KOREA | SB | ±â¾÷ÀºÇà(½Å)0903ÇÒ1A-2 | Rating Update |
2,500 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/07/01 | |
| INDUSTRIAL BANK OF KOREA | HB | (½ÅÁ¾)0612ÀÌ30A-11 | Rating Update |
6,000 | 2008/12/31 | AA | Stable | AA | Stable | 2009/07/01 | |
| KOREA KUMHO PETROCHEMICAL CO.,LTD. | SB | 127 | Rating Update |
800 | 2008/12/31 | BBB | Stable | BBB | Stable | 2009/07/01 | |
| KOREA KUMHO PETROCHEMICAL CO.,LTD. | EB | 112 | Rating Update |
1,100 | 2008/12/31 | BBB | Stable | BBB | Stable | 2009/07/01 | |
| KOREA SECURITIES FINANCE CORPORATION | SB | 2009-3 | Initial Rating |
2009/03/31 | | | AAA | Stable | 2009/07/01 | ||
| LG TELECOM CO.,LTD. | SB | 61 | Rating Update |
300 | 2008/12/31 | A+ | Stable | AA- | Stable | 2009/07/01 | |
| LG TELECOM CO.,LTD. | SB | 66 | Initial Rating |
1,000 | 2008/12/31 | | | AA- | Stable | 2009/07/01 | |
| NATIONAL AGRICULTURAL COOPERATIVE | SB | 2009-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/07/01 | ||
| NATIONAL AGRICULTURAL COOPERATIVE | SB | ³ó±Ýä2008-10ÇÒ1Y-A | Rating Update |
190 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/07/01 | |
| NATIONAL AGRICULTURAL COOPERATIVE | SBS | ³ó±Ýä2009-05ÀÌ06Y-°©(ÈÄ) | Rating Update |
5,957.07 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/07/01 | |
| NATIONAL AGRICULTURAL COOPERATIVE | FRN | ³ó¾÷±ÝÀ¶Ã¤±Ç2007-7ÀÌ8.3Y-A(º¯) | Rating Update |
500 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/07/01 | |
| STANDARD CHARTERED FIRST BANK KOREA LIMITED | SB | 09-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/07/01 | ||
| UBTRON CO.,LTD. | SCB | 10 | Initial Rating |
2008/12/31 | | | B- | Stable | 2009/07/01 | ||
| UBTRON CO.,LTD. | SCB | 4 | Rating Update |
70 | 2008/12/31 | B- | Stable | B- | Stable | 2009/07/01 | |
| AJU CORPORATION | SB | 6 | Rating Update |
600 | 2008/12/31 | BBB+ | Stable | BBB+ | Stable | 2009/06/30 | |
| AJU RENTAL CO.,LTD. | SB | 1 | Rating Update |
200 | 2008/12/31 | BBB- | Stable | BBB- | Stable | 2009/06/30 | |
| CHEIL INDUSTRIES INC. | SB | 134 | Rating Update |
1,000 | 2008/12/31 | AA- | Stable | AA- | Stable | 2009/06/30 | |
| DAEWOO CAPITAL CO., LTD. | SB | 170 | Rating Update |
200 | 2008/12/31 | A+ | Stable | A+ | Negative | 2009/06/30 | |
| DAEWOO ENGINEERING & CONSTRUCTION CO.,LTD. | SB | 18-2 | Rating Update |
1,000 | 2008/12/31 | A- | Stable | A- ¢Õ | | 2009/06/30 | |
| DONGKUK STEEL MILL CO.,LTD. | SB | 70-2 | Rating Update |
3,000 | 2008/12/31 | A | Stable | A | Stable | 2009/06/30 | |
| DONGYANG TELECOM CO.,LTD. | SCB | 1 | Rating Update |
30 | 2008/12/31 | CCC | Developing | C | Developing | 2009/06/30 | |
| DONGYANG TELECOM CO.,LTD. | SCB | 2 | Initial Rating |
50 | 2008/12/31 | | | C | Developing | 2009/06/30 | |
| DOOSAN MECATEC CO.,LTD. | SB | 12 | Rating Update |
500 | 2008/12/31 | BBB+ | Stable | BBB+ | Stable | 2009/06/30 | |
| GS ENGINEERING & CONSTRUCTION CORP. | SB | 120 | Rating Update |
1,000 | 2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/30 | |
| GS ENGINEERING & CONSTRUCTION CORP. | FRN | 119 | Rating Update |
310,000,000 (USD) |
2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/30 | |
| GUMGWANG ENGINEERING & CONSTRUCTION CO.,LTD. | SB | 2 | Rating Update |
1 | 2008/12/31 | A- | Negative | A- | Negative | 2009/06/30 | |
| HALLA CLIMATE CONTROL CORP. | SB | 6-2 | Rating Update |
700 | 2008/12/31 | AA- | Stable | AA- | Stable | 2009/06/30 | |
| HANA BANK | SB | 09-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/06/30 | ||
| HANA CAPITAL CO, LTD. | FRN | 72 | Rating Update |
30,000,000 (USD) |
2008/12/31 | A | Stable | A | Stable | 2009/06/30 | |
| HANA CAPITAL CO, LTD. | SB | 80 | Rating Update |
300 | 2008/12/31 | A | Stable | A | Stable | 2009/06/30 | |
| HANA CAPITAL CO, LTD. | SBS | 77 | Rating Update |
100 | 2008/12/31 | A- | Stable | A- | Stable | 2009/06/30 | |
| HYUNDAI CARD CO.,LTD. | SB | 198 | Initial Rating |
2008/12/31 | | | AA | Stable | 2009/06/30 | ||
| HYUNDAI HYSCO CO.,LTD. | SB | 53 | Rating Update |
1,000 | 2008/12/31 | A | Stable | A | Stable | 2009/06/30 | |
| HYUNDAI STEEL COMPANY | SB | 90-2 | Rating Update |
800 | 2008/12/31 | AA- | Stable | AA- | Stable | 2009/06/30 | |
| KOOKMIN BANK CO.,LTD. | SB | 2907 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/06/30 | ||
| KOREA DEVELOPMENT CORPORATION | SB | 26 | Rating Update |
750 | 2008/12/31 | A- | Stable | A- | Negative | 2009/06/30 | |
| KOREA DISTRICT HEATING CORP. | SB | 2 | Rating Update |
500 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/06/30 | |
| KOREA EXCHANGE BANK CO.,LTD. | SB | 32-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/06/30 | ||
| KOREA IB FINANCIAL CO.,LTD. | SB | 1-4 | Rating Update |
200 | 2008/12/31 | BBB | Stable | BBB | Stable | 2009/06/30 | |
| KOREA REAL ESTATE INVESTMENT & TRUST CO.,LTD. | SB | 26 | Rating Update |
400 | 2008/12/31 | BBB | Positive | BBB | Positive | 2009/06/30 | |
| KT CORPORATION | SB | 953-2 | Rating Update |
1,800 | 2008/12/31 | | | AAA | Stable | 2009/06/30 | |
| KT RENTAL CO.,LTD. | SB | 6-2 | Rating Update |
100 | 2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/30 | |
| KUMHO INDUSTRIAL CO.,LTD. | SB | 251 | Rating Update |
700 | 2008/12/31 | BBB | Stable | BBB ¡é | | 2009/06/30 | |
| KYONGNAM BANK CO.,LTD. | SB | 13-07 | Initial Rating |
2008/12/31 | | | AA+ | Stable | 2009/06/30 | ||
| KYONGNAM BANK CO.,LTD. | SB | 13-04ÇÒ1A-28 | Rating Update |
500 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/06/30 | |
| KYONGNAM BANK CO.,LTD. | SBS | ÈļøÀ§Æ¯¾àºÎä±Ç09-11ÀÌÇ¥05A | Rating Update |
500 | 2008/12/31 | AA | Stable | AA | Stable | 2009/06/30 | |
| NATIONAL FEDERATION OF FISHERIES COOPERATIVES | SB | ¼ö»ê±ÝÀ¶Ã¤±Ç(°æÁ¦)02-02ÀÌ12-27 | Rating Update |
650 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/06/30 | |
| SAMSUNG C&T CORP. | SB | 95-2 | Rating Update |
2,000 | 2008/12/31 | AA- | Stable | AA- | Stable | 2009/06/30 | |
| SEAH BESTEEL CORPORATION | SB | 62 | Rating Update |
500 | 2008/12/31 | A- | Stable | A- | Stable | 2009/06/30 | |
| SHINHAN BANK CO.,LTD. | SB | 13-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/06/30 | ||
| SHINHAN CAPITAL CO.,LTD. | SB | 199 | Initial Rating |
2008/12/31 | | | AA- | Stable | 2009/06/30 | ||
| SK BROADBAND CO.,LTD. | SB | 32-2 | Rating Update |
1,000 | 2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/30 | |
| SK CHEMICALS CO.,LTD. | SB | 177-2 | Rating Update |
800 | 2008/12/31 | A- | Stable | A- | Stable | 2009/06/30 | |
| SK TELECOM CO.,LTD. | SB | 60-2 | Rating Update |
5,000,000,000 (JPY) |
2008/12/31 | AAA | Stable | AAA | Stable | 2009/06/30 | |
| SK TELECOM CO.,LTD. | FRN | 56-2 | Rating Update |
12,500,000,000 (JPY) |
2008/12/31 | AAA | Stable | AAA | Stable | 2009/06/30 | |
| SKY NEWPHARM. CO., LTD. | CB | 1 | Rating Update |
70 | 2008/12/31 | B | Stable | CCC | Stable | 2009/06/30 | |
| STANDARD CHARTERED FINANCE KOREA CO.,LTD. | SB | 1 | Initial Rating |
| | AAA | Stable | 2009/06/30 | |||
| THE KWANGJU BANK LTD. | SB | 13-07 | Initial Rating |
2008/12/31 | | | AA+ | Stable | 2009/06/30 | ||
| THE KWANGJU BANK LTD. | SB | 12-09ÇÒ1°©-22 | Rating Update |
748 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/06/30 | |
| THE KWANGJU BANK LTD. | FRN | (±¸Á¶)11-08ÀÌ(º¯)05°©-16 | Rating Update |
1,000 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/06/30 | |
| THE KWANGJU BANK LTD. | SBS | 13-03ÀÌ5.9°©-31(ÈÄ) | Rating Update |
870 | 2008/12/31 | AA | Stable | AA | Stable | 2009/06/30 | |
| WOORI BANK CO.,LTD. | SB | 13-07 | Initial Rating |
2008/12/31 | | | AAA | Stable | 2009/06/30 | ||
| WOORI CAPITAL CO.,LTD. | FRN | 171-2 | Rating Update |
200 | 2008/12/31 | A- | Stable | A- | Stable | 2009/06/30 | |
| WOORI CAPITAL CO.,LTD. | SB | 181 | Rating Update |
200 | 2008/12/31 | A- | Stable | A- | Stable | 2009/06/30 | |
| WOORI CAPITAL CO.,LTD. | SBS | 168 | Rating Update |
1,000 | 2008/12/31 | BBB+ | Stable | BBB+ | Stable | 2009/06/30 | |
| YEOCHUN NCC CO.,LTD. | SB | 61-2 | Rating Update |
1,700 | 2008/12/31 | A | Stable | A- | Stable | 2009/06/30 | |
| HYUNDAI MERCHANT MARINE CO.,LTD. | SB | 170 | Initial Rating |
2,000 | 2008/12/31 | | | A | Stable | 2009/06/29 | |
| KOREA EAST WEST POWER CO.,LTD. | SB | 9 | Rating Update |
1,000 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/06/29 | |
| KOREA EAST WEST POWER CO.,LTD. | SB | 12 | Initial Rating |
1,000 | 2008/12/31 | | | AAA | Stable | 2009/06/29 | |
| KOREA RURAL COMMUNITY CORPORATION | SB | 7 | Rating Update |
600 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/06/29 | |
| KYUNGKI CITY PUBLIC CORPORATION | SB | º¸»óä±Ç(±¤±³)Á¦19 | Rating Update |
4.99 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/06/29 | |
| ORION CORP. | FRN | 84 | Rating Update |
50,000,000 (USD) |
2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/29 | |
| ORION CORP. | SB | 89 | Rating Update |
500 | 2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/29 | |

| Issuer Name | CEO | Rating Type | FY End | FS Date | Previous Rating | Current Rating | Rating Date | Report |
|---|---|---|---|---|---|---|---|---|
| Outlook | Outlook | |||||||
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| GOOD INVEST 2ND CO.,LTD. | Lee,Eun Ju | Rating Update |
03 | BBB | | BBB ¡é | | 2009/07/02 | ||
| NEW ORIENTATION CO.,LTD. | Choe,Yeon U | Rating Update |
10 | A- | | A- | | 2009/07/02 | ||
| BINGGRAE CO.,LTD. | Lee,Geon Yeong | Rating Update |
12 | 2008/12/31 | A+ | Stable | A+ | Stable | 2009/07/01 | |
| INDUSTRIAL FINANCE BOND THE FIRST CO.,LTD. | Park,Yun Gyeong | Rating Update |
11 | AAA | | AAA | | 2009/07/01 | ||
| NATIONAL AGRICULTURAL COOPERATIVE | Choe,Won Byeong | Rating Update |
12 | 2008/12/31 | AAA | Stable | AAA | Stable | 2009/07/01 | |
| SMI FINANCE BOND THE SECOND CO.LTD. | Park,Yun Gyeong | Rating Update |
09 | AAA | | AAA | | 2009/07/01 | ||
| CNH CAPITAL CO.,LTD. | Jo,Deok Ho Gwak,U Seop |
Rating Update |
12 | 2008/12/31 | BBB- | Stable | BBB- | Stable | 2009/06/30 | |
| HANSHIN CONSTRUCTION CO.,LTD. | Tae,Gi Jeon | Initial Rating |
12 | 2008/12/31 | BBB+ | Stable | BBB+ | Stable | 2009/06/30 | |
| HYUNDAI HEAVY INDUSTRIES CO.,LTD. | Min,Gye Sik Choe,Gil Seon |
Rating Update |
12 | 2008/12/31 | AA+ | Stable | AA+ | Stable | 2009/06/30 | |
| SK BROADBAND CO.,LTD. | Jo,Sin | Rating Update |
12 | 2008/12/31 | A+ | Stable | A+ | Stable | 2009/06/30 | |
| SK TELESYS CO.,LTD. | Park,Hak Jun | Initial Rating |
12 | 2008/12/31 | | | BBB+ | Stable | 2009/06/29 | |

| Issuer Name | CEO | Rating Type | FY End | FS Date | Previous Rating | Current Rating | Rating Date | Report |
|---|---|---|---|---|---|---|---|---|
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| KUMHO TIRE CO.,INC. | Park,Sam Gu Kim,Jong Ho |
Initial Rating |
12 | 2008/12/31 | A3+ | A3 | 2009/07/02 | |
| ASIANA AIRLINES INC. | Park,Sam Gu Park,Chan Beop Yun,Yeong Du |
Initial Rating |
12 | 2008/12/31 | A3 | A3 | 2009/07/01 | |
| BINGGRAE CO.,LTD. | Lee,Geon Yeong | Initial Rating |
12 | 2008/12/31 | A1 | A1 | 2009/07/01 | |
| DAESANG CORP. | Park,Seong Chil | Initial Rating |
12 | 2008/12/31 | A2- | A2- | 2009/07/01 | |
| DONGBU CAPITAL CORP. | No,Yeong Man | Initial Rating |
12 | 2008/12/31 | A3- | A3- | 2009/07/01 | |
| GS HOLDINGS CORP. | Heo,Chang Su Seo,Gyeong Seok |
Initial Rating |
12 | 2008/12/31 | A1 | A1 | 2009/07/01 | |
| GS-CALTEX CORPORATION | Heo,Dong Su Myeong,Yeong Sik |
Initial Rating |
12 | 2008/12/31 | A1 | A1 | 2009/07/01 | |