hankyoreh

US crediting rating agency S&P Global Ratings has maintained South Korea’s sovereign credit rating at AA with a stable outlook, despite the country’s dismal growth prospects. In a press release, S&P said its rating “reflects our expectation that geopolitical risks in the Korean Peninsula will not escalate to the point of hurting Korea's economic fundamentals over the next two years." The rating comes despite S&P’s forecast that the South Korean economy will shrink for the first time since the 1998 Asian financial crisis.