The South Korean economy has a degree of policy space to tackle and contain domestic risks and geopolitical shocks, senior officials from global ratings agencies told Finance Minister Yoo Il-ho.
Yoo, who is on a US trip to attend the conferences of the World Bank and the International Monetary Fund, held separate meetings with senior officials from Moody‘s, Standard and Poor’s and Fitch on Oct. 8 in Washington.
During the meetings, officials from the ratings agencies told Yoo that South Korea’s policy space can cope with household debt, the aging population and geopolitical risks.
Standard & Poor’s raised its credit rating of the Korean economy to “AA” from “AA-” in August.
In December last year, Moody‘s upgraded South Korea’s rating to “Aa2” from “Aa3.” Fitch has reaffirmed South Korea‘s rating at “AA-.”