S&P rates Korea notes AA

S&P said it assigned an AA long-term rating to the benchmark-sized dollar-denominated notes issued by the Republic of Korea.

The notes will constitute the direct, unconditional, unsubordinated and unsecured obligations of Korea, the agency said.

The sovereign credit ratings on Korea reflect the country's favorable policy environment, sound fiscal position and net external creditor position, S&P said.

Significant security risks and contingent fiscal liabilities partly offset these strengths, the agency said.

The company has a stable outlook due to an expectation that long-standing geopolitical risks will not escalate materially to the point of damaging Korea's credit metrics, S&P noted.

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