International credit rating agency Standard & Poor's (S&P) announced on the 15th that it will maintain South Korea's long-term sovereign credit rating at the previous rating of 'AA'. The rating outlook was also given as 'Stable', the same as before.
S&P has maintained South Korea's sovereign credit rating at 'AA' since upgrading it from 'AA-' in August 2016.
S&P stated, "South Korea's economic competitiveness and solid external fiscal position are expected to support the country's credit stability despite challenging global economic conditions," adding, "Although economic growth and exports may slow, these factors are expected to continue providing a strong economic and external foundation for the country's creditworthiness."
It further noted, "Following the declaration and swift lifting of martial law in early December 2024, South Korean institutions have responded promptly to potential instability arising from the aftermath of martial law," and "The policy environment is expected to generally normalize after the election of the new president."
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