April 23, 2012 13:13
Finance Minister Bahk Jae-wan has called on credit rating agency Standard & Poor's to raise Korea's sovereign credit rating. Meeting with S&P's Curt Moulton, who is in charge of global credit ratings, Bahk cited Korea's sound financial situation as being worthy of an upgrade.
Moulton reportedly highlighted the debt status of Korean public corporations and local autonomies. Bahk said the government would boost measures to monitor the fiscal soundness of state-run firms and come up with ways to cut down on overall debt.
S&P has maintained its level A rating for Korea since 2005, when it last raised it. This is one notch lower than the levels of credit rating agencies Moody's and Fitch.
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