S&P affirms Korea

Standard & Poor's said it affirmed the A foreign-currency and A+ local-currency long-term sovereign credit ratings on the Republic of Korea.

The agency also said it affirmed the short-term sovereign credit rating at A-1 and the transfer and convertibility (T&C) assessment remains at AA-.

The outlook is stable.

The sovereign credit ratings on Korea reflect an intermediate political and economic profile, as well as a very strong flexibility and performance profile, S&P said.

These strengths are balanced against the significant security risks and contingent liabilities that the sovereign faces, the agency added.

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