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Fitch affirms S. Korea's credit rating at 'AA-'; outlook stable

All News 10:59 February 12, 2020

SEJONG, Feb. 12 (Yonhap) -- Global credit appraiser Fitch Ratings said Wednesday that it has reaffirmed its rating for South Korea at "AA-" with a stable rating outlook.

"Korea's rating balances robust external finances, steady macroeconomic performance, and a record of sound fiscal management against evolving geopolitical risks related to North Korea and medium-term structural challenges from ageing demographics and low productivity," the ratings agency said in a report posted on its website.

South Korea's economy is expected to grow 2.3 percent this year, Fitch said, helped by fiscal stimulus, gradually rising semiconductor prices and reduced trade policy uncertainty.

"However, the spread of the novel coronavirus poses new downside risks to the outlook through its impact on tourism, retail sales, and potential supply-chain disruptions," it said.


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