S&P Maintains S.Korea's AA Rating Amid Strong Growth Outlook

30 April, 2021
S&P Maintains S.Korea's AA Rating Amid Strong Growth Outlook
Global ratings agency Standard & Poor's has maintained South Korea's credit history at AA.

S&P affirmed South Korea's economy as stable and expected it to keep to exhibit stronger growth compared to almost every other high-income economies, according to the Ministry of Economy and Finance on Wednesday.

The credit history agency forecast the country's economical growth this year at around 3.6 percent, saying it will be backed by recovering consumption and the government's stimulus measures. You will find a slim chance that it will be impeded by COVID-19.

However, North Korea was pinpointed just as one risk factor that could affect the stable outlook.

S&P's rating for South Korea has remained unchanged at AA, the third-highest level, since 2016.