Korea Gets S&P Upgrade on Stability Amid Global Turmoil
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South Korea saw its debt rating boosted for a third time in less than three weeks, spurring the won to its highest level against the dollar since March.
The sovereign rating was upgraded one step to A+, the fifth-highest, by Standard & Poor’s, on a par with Chile and one level below China, Japan, Taiwan and Saudi Arabia. Fitch Ratings has South Korea at AA- and Moody’s Investors Service at Aa3, both the companies’ fourth-highest level, after their upgrades.