The Korean Herald reported that a team from Moody’s Investors Service will be visiting South Korea February 15-17 to assess its rating on the country. The team will be meeting with corporate leaders and senior officials in the Finance Ministry. The Finance Ministry said that Moody’s could adjust its rating based on its evolution of the political and economic situation.
Moody’s had last upgraded its sovereign rating on South Korea in 2002 by a signing A3 rating with a stable outlook. Last year, Fitch Ratings gave South Korea an upward revision due to reduction in security risks with North Korea agreeing to abandon its nuclear weapons program. Standard &Poor’s had also upgraded its rating on Korea in July 2005. Moody’s is expected to evaluate S Korea’s potential economic growth by measuring consumer spending and corporate investment. Moody’s would also evaluate the reform progress in financial, corporate and labour markets.