The Ministry of Economy and Finance on Feb. 7 said Fitch's decision to maintain the nation's sovereign rating at "AA-" with a stable outlook was based on a comprehensive assessment of Korea's external finances, macroeconomic performance, export dynamics, geopolitical risks and structural challenges due to the country's aging population. (Yonhap News)

By Yoo Yeon Gyeong

Fitch has maintained Korea's sovereign rating at "AA-" with a stable outlook, the first time one of the world's top three credit rating agencies has made such an announcement since the brief imposition of martial law late last year.

The Ministry of Economy and Finance on Feb. 7 said Fitch's decision to maintain the rating was based on a comprehensive assessment of Korea's external finances, macroeconomic performances, export dynamics, geopolitical risk due to North Korea and structural challenges stemming from an aging population.

Political uncertainty could persist for several months, it added, but is not expected to "materially and durably undermine Korea's institutions, governance or economy."

"Fitch reaffirmed its unwavering confidence in the Korean economy," the ministry said. "This can apparently greatly alleviate foreign investor jitters over Korea's external credit rating."

Fitch has kept the country's credit rating at "AA-" since upgrading it from "A+" in 2012.

dusrud21@korea.kr