South Korea Rating Raised by Fitch on Nation’s Stability
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South Korea’s debt rating was upgraded by Fitch Ratings to AA-, the same as Saudi Arabia and one level higher than Japan and China, 10 days after a similar move by Moody’s Investors Service.
“It is an important vote of confidence for Korea’s safe haven status, which could strengthen the appreciation bias of the Korean won,” said Wai Ho Leong, a senior regional economist at Barclays Plc in Singapore. “We expect more inflows from sovereign wealth funds.”