Moody's affirms Korea

Moody's Investors Service said it maintaining the stable outlook for Korea's A2 local- and foreign-currency government bond ratings.

The stable outlook is premised on the ability of the authorities to manage the country's vulnerability to the global financial market crisis and avoid a deep and sustained deterioration in relative credit metrics, Moody's said.

The ratings are supported by Korea's high economic resiliency, the agency said, but are tempered by a mid-range, rather than low, susceptibility to event risk.

Additional support comes from the economic and financial restructuring of the past decade along with a prudent fiscal stance and strong government balance sheet, Moody's said.

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