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Fitch Maintains S. Korea's Rating at 'AA-' with Stable Outlook

Written: 2023-03-13 17:57:43Updated: 2023-03-13 18:01:34

Fitch Maintains S. Korea's Rating at 'AA-' with Stable Outlook

Photo : YONHAP News

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

Explaining the reasons behind its assessment to keep its fourth highest rating, Fitch said on Monday that South Korea has robust external finances, 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. 

Fitch projected the South Korean economy will grow one-point-two percent this year.

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