YEREVAN, August 27. /ARKA/. Moody’s Investors Service on Monday upgraded South Korea’s credit rating, citing a high degree of economic resilience and strong fiscal fundamentals, rttnews.com reports.
The rating agency said it is lifting the Republic of Korea’s government bond rating to Aa3 from A1, with a ‘stable’ outlook. Moody’s said South Korea’s government finance metrics are very well placed among all Aa-rated peers.
According to the agency, strong fiscal fundamentals enable a relatively large degree of policy space to cope with contingent domestic risks and external shocks. The government’s balance sheet has been relatively unscathed by the global financial crisis and, so far, by the Eurozone crisis, it noted.—0–
