Moody"s Evaluation Significant Start for Korea

When Moody's, the world-renowned credit evaluation agency, raised Korea's credit rating to the 'Suitable for Investment' level, it was a significant message for both Korean companies and the nation's economic recovery.
Moody's was the last, but arguable the most influential, of the three major credit evaluation institutes to raise Korea's sovereign rating.
England's Fitch-IBCA and the U.S.' Standard and Poor's already leveled up Korea's ranking to investment grade last month.
In accordance with those three groups' positive evaluation, the current standard for Korea's borrowing foreign-based money will be much easier with far better conditions attached.
In November 1997, Moody's dropped Korea from the A1 to A3 level and then down to the Ba1 in December, altogether Korea's ranking fell six levels within a month.
However, in December 1998, it announced that Korea had been put forth for 'Review for a Possible Upgrade' .
Nevertheless, the current upgrade is nothing but the start as it is still six levels lower than Taiwan, and at the same level as Malaysia, Colombia, Poland and South Africa.