(LEAD) S Korea-Fitch rating
(LEAD) Fitch keeps S. Korea's credit rating unchanged at 'AA-,' outlook stable
(ATTN: UPDATES with details throughout)
SEOUL, March 13 (Yonhap) -- Global credit appraiser Fitch Ratings said Monday it has reaffirmed South Korea's sovereign rating at "AA-" with a stable outlook.
Fitch's rating for South Korea has been AA-, the fourth-highest level on the agency's table, since September 2012.
"Korea's rating balances robust external finances, resilient macroeconomic performance and a dynamic export sector against geopolitical risks related to North Korea, lagging governance indicators and structural challenges from an ageing population," the credit appraiser said in a release.
"Economic growth is likely to decelerate in the near term, but credit and policy buffers remain sufficient to manage these pressures," it added.
Fitch said South Korea's economy is expected to grow 1.2 percent on-year in 2023, compared with a 2.6-percent growth tallied in 2022, as "the economy faces headwinds from subdued global growth, high interest rates and still elevated inflation."
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