Fitch main­tains S.Korea rat­ing

China Daily (USA) - - BUSINESS -

Global credit rat­ing com­pany Fitch main­tained South Korea’s sov­er­eign rat­ing at AA- with a sta­ble out­look, Seoul’s fi­nance min­istry said on Thurs­day, cit­ing the rat­ing ap­praiser. It was the fourth­high­est in Fitch’s rat­ing tier, and the high­est ever won by South Korea, ac­cord­ing to the Min­istry of Strat­egy and Fi­nance. Fitch said ten­sions were es­ca­lated on the Korean Penin­sula, but it noted that this was not new and showed the sim­i­lar past “pat­tern of rise-and-fall cy­cles.” “While the cur­rent level of ten­sion is high, strains on the Korean Penin­sula are not new, and have fol­lowed a fa­mil­iar pat­tern of rise-and-fall cy­cles in the past,” Fitch said in a state­ment.

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