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KB Financial Group Inc. -- Moody's affirms KB Financial Group's ratings on planned acquisition of Prudential Life Insurance Company of Korea, Ltd.

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Rating Action: Moody's affirms KB Financial Group's ratings on planned acquisition of Prudential Life Insurance Company of Korea, Ltd. Hong Kong, April 28, 2020 -- Moody's Investors Service has affirmed the A1 long-term foreign currency issuer rating with a stable outlook, and Prime-1 short-term foreign currency issuer rating of KB Financial Group Inc. (KB FG). On 10 April 2020, KB FG entered into a purchase and sale agreement to wholly acquire Prudential Life Insurance Company of Korea, Ltd. (Prudential Life Korea) from Prudential Financial, Inc. (A3 stable) for a total cash consideration KRW2.3 trillion ($1.9 billion).