SEJONG (Yonhap News) ― Global credit appraiser Fitch Ratings will maintain its sovereign ratings on South Korea despite heightened geopolitical tension following the recent nuclear test by North Korea, government officials said Thursday.
The credit ratings agency officially notified the Seoul government of the decision through an email, according to the finance ministry. Fitch also said it will maintain its rating outlooks at “stable.”
Last September, Fitch raised the ratings on South Korea from “A+” to “AA-,” the fourth-highest of its rating system, and has maintained the level ever since.
North Korea conducted its third nuclear test on Tuesday in defiance of the international community’s outcry condemning the North’s December long-range rocket launch. Pyongyang previously detonated nuclear devices in 2006 and 2009.
