Korea to hold annual meeting with Fitch on credit assessment

The South Korean government will have an annual consultation with Fitch Ratings Inc. this week on the country's credit valuation, the finance ministry said Wednesday.

Led by Thomas Rookmaaker, head of Asia-Pacific sovereigns at Fitch, the delegation will visit South Korea for meetings with the Ministry of Strategy and Finance from Wednesday to Friday.

Fitch will look into South Korea's macroeconomic policies, including its mid- and long-term plans, and financial issues like household debt and corporate restructuring, according to the ministry.

It will also check the country's fiscal health and financial stability, as well as geopolitical situations such as North Korean issues.

Fitch has maintained a stable "AA-" grade for South Korea since June 2012, while Standard & Poors upgraded the rating of Asia's fourth-largest economy to "AA" earlier this month, the third-highest level on the company's table. Moody's rated the country at "Aa2" in 2015.

The ministry said it will have meetings with Moody's in September to discuss South Korea's sovereign rating assessment, following a discussion with S&P in April. (Yonhap)