Korea, S&P to begin annual credit evaluation consultations this week

S&P Global headquarters, New York / Courtesy of S&P Global

Korea will begin its annual consultation meetings with global credit rating agency S&P Global Ratings (S&P) this week to discuss the country's credit evaluation and other key issues, the finance ministry said Monday.

S&P officials will visit various government and public institutions, including the Bank of Korea, for a three-day assessment starting Monday before deciding on the country's sovereign rating, the ministry said.

S&P maintained Korea's long-term sovereign credit rating at "AA," the third-highest level in its ranking system. The country has held this position since August 2016, when the rating was upgraded from "AA-."

In January, another global credit rating agency, Fitch Ratings, reaffirmed Korea's sovereign rating at "AA-" with a stable outlook.

Source: Korea Times News