Seoul City's credit rating on its long-term foreign currency bond was upgraded a notch higher from Triple B to Triple B plus.
The US credit rating company Standard and Poor's said Thursday that it raised the Seoul City's credit standing of its foreign bond to triple B plus, along with upgrading Korea's overall credit standing as of Tuesday.
Standard & Poor's also upgraded Seoul City's short-term foreign currency bonds from A minus 3 to A minus 2 and gave Seoul city's mid and long term perspective a notch higher to a stable stage from the positive one.