S&P Upgrades Korea's Credit Rating to A+
Talk about a credit-rating grand slam.
S&P on Friday became the last credit rating agency to boost Korea's rating this year -- raising its grade to A+ from A, the first upgrade in seven years.
Korea also became the only country among the so-called A-listers -- to have all of its three credit ratings upgraded this year.
Korea now stands just one notch below Japan and China according to S&P and Fitch even has Korea higher than both of its Asian neighbors at AA-.
Moody's has all threee nations at Aa3.
The ratings handed out by Moody's and Fitch are the fourth highest ratings in their respecitve systems and S&P's rating is the fifth highest.
The reasons for a unanimous upgrade
S&P's latest upgrade, coupled with the news of a third quantitiative easing from Washington pushed the benchmark KOSPI to a 5-month high at above 2,7 points Friday with the Korean won strengthening by a percent to finish at 11-17 against the greenback.
Song Ji-sun, Arirang News.
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