S&P retains S. Korea`s sovereign rating at `A`

SEOUL, Feb. 17 (Yonhap) -- Global credit appraiser Standard & Poor's (S&P)
Ratings Services said Tuesday that it has retained South Korea's sovereign
rating, citing the nation's stable fiscal status and economic strength.
The agency said in a statement that it has decided to keep its sovereign credit
ratings for South Korea at "A," with its outlook remaining "stable."
"The sovereign credit ratings on Korea are underpinned by a dynamic economy,
sound fiscal position and external position," S&P said. "The stable outlook on
the ratings on the Korean government reflects our view that financial stability
will be maintained despite an anticipated weakening of banks' financial profiles
in the near term."
S&P has kept the rating on South Korea unchanged since July 2005 when it was
raised from "A-minus" to "A." The current credit rating is the sixth-highest
level but still two notches below what S&P gave to South Korea before it was hit
by the Asian financial meltdown a decade ago.
kokobj@yna.co.kr
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