OREANDA-NEWS. Fitch Ratings has today withdrawn Korea-based Hana Bank's (Hana) issuer ratings as the bank has been reorganised. At the same time Fitch has affirmed the ratings on its senior unsecured debt at 'A-'. Accordingly, Fitch will no longer provide ratings or analytical coverage for Hana. A full list of rating actions is at the end of this rating action commentary.

KEY RATING DRIVERS
SENIOR DEBT
The 'A-' ratings on the senior unsecured notes of Hana are driven by its IDRs, as they are direct, unsubordinated and unsecured obligations of the bank, and rank equally with all their other unsecured and unsubordinated obligations. All senior unsecured debts of Hana have been transferred to a new entity KEB Hana Bank (A-/Stable) on 1 September 2015, when Hana and Korea Exchange Bank were consolidated. KEB was acquired by Hana Financial Group in 2012.

Hana no longer exists following the consolidation, which left KEB as the surviving entity. KEB's name has been changed to KEB Hana Bank. KEB's ratings were affirmed on 27 July 2015 and Fitch's view has not been affected by the merger.

RATING SENSITIVITIES
SENIOR DEBT
Any change in KEB Hana's IDR will be reflected in the debt ratings.

FULL LIST OF RATING ACTIONS
Hana Bank
Long-Term Foreign Currency IDR of 'A-' withdrawn
Short-Term Foreign Currency IDR of 'F1' withdrawn
Viability Rating of 'bbb+' withdrawn
Support Rating of '1' withdrawn
Support Rating Floor of 'A-' withdrawn
Senior unsecured debt ratings affirmed at 'A-'.