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Fitch keeps S Koreas credit rating at AA outlook stable
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=dhmklp0D7ak
국제신용평가사 피치, 한국 국가신용등급 안정적 유지 • The pandemic continues to leave its mark on the global economy. • This year, the highest number of countries received downgraded ratings or outlooks by the three major global credit appraisers including Fitch. • Yet, South Korea managed to maintain its 'double-A-minus' level for over eight years. • Kim Sung-min sheds light on the significance of this development. • Global credit assessor Fitch Ratings has decided to keep South Korea at double-A-minus, the fourth-highest...with an outlook of stable. • Korea has kept this rating since 2012 and continues to do so despite a global economic downturn caused by COVID-19. • Fitch said it based its decision on South Korea's steady economic performance,... despite certain challenges including North Korea and an aging society. • It added that...although the pandemic is weighing on the economy, South Korea has limited the damage through robust policy responses. • Though the level has remained the same for over eight years, this recent affirmation is meaningful...since a record number of countries have seen their outlooks or credit ratings downgraded this year. • Ratings of countries including the UK and Canada have been downgraded, and the U.S. and Japan have received scaled-back outlooks. • We have been keeping the supply and demand of foreign exchange in a stable condition, although the country has seen a recession in trade surplus. And I assume they kept the rating for South Korea, considering its asset market stability. • However, some experts suggest that, although maintaining the same level is positive, caution is still advised. • The fact that a global credit agency has assessed South Korea's economy in a positive way is meaningful. However, it is also true that some of their past ratings did not fully reflect the upcoming difficulties. • With the on-going uncertainties, Fitch forecasts the nation's GDP to contract by one-point-one percent this year. • But this is still a smaller decline than the Bank of Korea's projection of a one-point-three percent contraction...and an average seven-point-one contraction of countries with the same credit rating. • Kim Sung-min, Arirang News • 2020-10-07, 22:00 (KST) • #Fitch #SouthKorea #outlook • 📣 Arirang News(Facebook) : / arirangtvnews • 📣 Arirang News(Twitter) : / arirangtvnews • 📣 News Center(YouTube) : / newscenter_arirangtv
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