The Ministry of Strategy and Finance announced on the 7th that Fitch, an international credit rating firm, has maintained Korea's national credit rating as AA- and its rating outlook as'stable'.
This evaluation reflects the conference call discussions in September.
Fitch said that the results of this evaluation reflect South Korea's credit rating (AA-), which reflects good external soundness, sustained macroeconomic performance, and financial capacity under the geopolitical risks associated with North Korea and the medium-term challenges of aging and moderate growth. .
Fitch predicted that the spread of Corona 19 is acting as a burden on economic growth and finances, but through effective response to the Corona 19 policy, it will achieve a better economic growth rate compared to major advanced countries and similar-grade (AA) countries.
The Ministry of Science and Technology gave meaning that "Pitch's decision to maintain the national credit rating and outlook is a reaffirmation of foreign confidence in the Korean economy while the outlook for the nation's credit rating is being downgraded to the highest level in history due to the global economic downturn caused by Corona 19." I did.
(Photo = Courtesy of International Credit Rating Company Pitch, Yonhap News)