Fitch affirms Shinhan Card

Fitch Ratings said it affirmed Shinhan Card Co. Ltd.'s long-term foreign currency issuer default rating at BBB+, its short-term issuer default rating at F2, its individual rating at C and its support rating at 2.

The outlook is stable.

The agency said that the support rating is based on Shinhan Card's parent, the Shinhan Financial Group.

According to Fitch, together, Shinhan Card and LG Card have a low 4.1% delinquency ratio, 167% covered by reserves.

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