S Korea-sovereign rating
Japanese rating agency ups S. Korea's rating to 'AA'
SEOUL, Sept. 30 (Yonhap) -- A Japanese credit rating agency has raised South Korea's sovereign rating by one notch, citing improvement in its industrial base and growing resilience to external shocks, Seoul's finance ministry said Friday.
The Japan Credit Rating (JCR) increased its rating for South Korea to "AA" from "AA-," with the rating outlook remaining "stable."
It made the assessment "based on the progress in the enhancement of the industrial base, increased resilience to external shocks and the maintenance of a solid fiscal base," according to the ministry.
Earlier this week, global credit appraiser Fitch Ratings reaffirmed South Korea's sovereign rating at "AA-," the fourth-highest level on the agency's table, with a stable outlook.
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