S&P gives AA to Korea notes

S&P said it assigned its AA long-term issue rating to the proposed benchmark-sized U.S. dollar-denominated dual tranche notes by the Republic of Korea (AA/stable/A-1+).

The notes consist of 10-year and 30-year tranches.

“Our ratings on Korea reflect the country's favorable policy environment, sound fiscal position, and net external creditor position. We believe Korea's high-income economy continues to demonstrate stronger growth prospects than most developed countries’,” S&P said in a news release.

“Significant security risks and contingent fiscal liabilities partly offset these strengths.”

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