Fitch raises Korea’s credit rating to AA-
With yesterday’s upgrade, Korea has its highest-ever level by three international credit rating agencies since the country was first assessed in 1986.
The Ministry of Strategy and Finance announced yesterday Fitch upgraded the country’s credit level by one notch from the current A+ to AA-, the fourth-highest level given by the agency. The agency gave Korea a “stable” outlook.
On Fitch’s list, Korea is on a higher level than Japan and China. On Moody’s, Korea ranks the same Aa3 level as its two Asian neighbors.
According to the Finance Ministry, it is the first time Korea outstripped Japan in a credit rating. Moody’s raised Korea’s level from A1 to Aa3 on Aug. 27.
By Song Su-hyun [firstname.lastname@example.org]