Special Report:Global Financial Crisis
SEOUL, Feb. 5 (Chinese media) -- South Korea's Ministry of Strategy and Finance
said Thursday that international credit ratings agencies show no movement of
downgrading the nation's sovereign credit rating.
"International credit ratings agencies usually consult the government
before they make any adjustments to the nation's credit ratings," said Song
In-chang, head of International Finance Depart in the finance ministry, said.
"Thus far, there has not been a single credit agency that contacted the
government on such matters," he added.
According to Song, the market may have misinterpreted Fitch Ratings'
Teleconference "Non-Japan Asia-Pacific Structured Finance Outlooks" held on
Wednesday as a pessimistic sign on South Korea's credit rating. He added there
is no such case as to downgrade credit ratings during a teleconference.
Fitch Ratings currently maintains South Korea's sovereign credit rating at
"A+" and a "negative" outlook for the country. Moody's and Standard and Poor's
show no sign of lowering South Korea's credit ratings either, according to the
government.
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