Moody’s Upgrades Korea’s Credit Rating to Positive
Moody’s Upgrades Korea’s Credit Rating to Positive
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2012.04.03 11:37
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SEOUL, KOREA — Moody’s, a US credit rating agency, upgraded Korea’s sovereign credit rating from Stable to Positive on April 2, 2012.    The credit rating corporation, which rated Korea’s credit as A2 or Stable in 2007, and maintained the rating on April 14, 2010, upgraded the country’s rating to A1 or Positive on April 2, 2012.    
 
Today’s  upgrade  is  the  result  of  the  improvement  of  fiscal  soundness  and  the  government  level  of solvency,  a  decrease  in  banks’  short-term  external  debt,  and  a  relatively  bright  outlook  for  growth, according to Moody’s. The rating corporation suggested the possibility of the country’s credit rating to be further upgraded to AA  in  the  future  if  fiscal  soundness  continues  to  increase  and  external  vulnerability  continues  to decrease, and North Korean risks are under control.

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