Global credit rating agency Fitch Ratings has maintained South Korea's credit rating at "AA-" with a stable outlook.

The finance ministry said on Wednesday that Fitch maintained the country’s rating at the fourth-highest level on its sovereign ratings table with a stable outlook, holding steady at the same rating held since September 2012, when the country was upgraded by a notch from A+.

Explaining the reasons behind its assessment, Fitch said that South Korea has robust external finances, a resilient macroeconomic performance and dynamic exports.

However, the agency pointed out some negative factors, such as geopolitical risks related to North Korea, lagging governance indicators and structural challenges associated with the aging population.

The ministry said that Fitch predicted that the country’s fiscal deficit would continue to decrease thanks to the government's efforts to ensure sound finances, and also highly evaluated the country’s external finances.

The ministry added that it will continue efforts to maintain and strengthen the country’s sovereign rating while communicating with Fitch on a regular basis.