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S&P to Upgrade Korea"s Credit Rating

Jan 12,1999
John Chambers, managing director for sovereign ratings at Standard and Poor's(S&P) replied 'Optimistic', when asked about the possibility of upgrading Korea's credit rating.
He said this on January 12 while visiting the Bank of Korea with Takahira Ogawa, head of S & P's sovereign team at the Singapore branch.
Regarding the time of the upgrade, Chambers said, 'That is an issue which will be decided with enough consideration after I return to the U.S. Therefore, as of now, it can not be determined.'
He explained, 'The purpose of this visit is an executive one in order to confirm monetary and foreign exchange policies of the government.'
On the purpose of meeting political leaders, he added, 'It is to ask the thoughts of political leaders related to economic policies.'
The investigating team of S&P which arrived in Korea on January 11 will visit the Ministry of Finance and Economy, the Financial Supervisory Commission and the Federation of Korean Industries.


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