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Financial News: S&P Maintains S. Korea's Sovereign Ratings

S&P Maintains S. Korea's Sovereign Ratings

08/18/2017 - 05:45:00 (RTTNews)

(RTTNews) - Standard & Poor's on Friday maintained the sovereign ratings of South Korea at 'AA' with 'stable' outlook as geopolitical risks are not expected to escalate.

The rating reflects the country's favorable policy environment, sound fiscal position, and net external creditor position. Significant security risks and contingent fiscal liabilities partly offset these strengths, S&P said.

The Korean economy remains well-diversified and is not dependent on a particular industry or export market, the rating agency noted.

S&P observed that monetary policy regime provides support for resilient and sustainable economic growth. Nonetheless, high household debt could constrain monetary flexibility.

The agency believed the risk of an armed conflict in the Korean peninsula remains remote despite the growing geopolitical tensions in recent months.

The stable outlook on Korea reflects expectations that geopolitical risks in the Korean peninsula will not escalate over the next two years.

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