South Korea will begin annual consultations with S&P Global Ratings in the week beginning March 9 to assess its sovereign credit rating, Yonhap News reported Thursday, citing the Ministry of Economy and Finance.
S&P officials will visit key institutions, including the Bank of Korea, for a five-day review. Despite the political turmoil that followed President Yoon Suk Yeol's short-lived martial law imposition earlier in December 2024 and his eventual impeachment, S&P has maintained South Korea's "AA" rating since 2016, the report said.
The South Korean government, currently led by acting President Choi Sang-mok, has engaged global agencies to ensure credit stability. In February, Fitch Ratings reaffirmed South Korea's "AA-" rating with a stable outlook, it said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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