Moody's Keeps Korea's Credit Rating at Aa2

Moon Kim, July 6, 2017, 9:35 a.m.

Ratings firm Moody's has maintained South Korea's credit rating at Aa2 or "very high" and raised the country's 2017 growth outlook from 2.5 percent to 2.8 percent.

Moody's raised the country's sovereign rating from Aa3 to Aa2 in December 2015.

Aa2 is the third-highest rating the firm gives. The rating "reflects Korea's very high economic strength, ...institutional strength, ...fiscal strength, and moderate susceptibility to event risks stemming from North Korean military provocations and regime instability," Moody's said.

The firm said it boosted the growth forecast after looking at first-quarter figures.

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