[THE INVESTOR] Global credit appraiser Standard & Poor’s raised South Korea‘s sovereign rating one notch to “AA” from “AA-” on Aug. 8.

“The upgrade reflects our assessment that Korea’s strong record of steady growth has generated a prosperous economy, greater fiscal and monetary flexibility, and continual improvements in external metrics,” the company said in a statement.

“Our rating on Korea reflects the country’s favorable policy environment, sound fiscal position and net external creditor position. Significant security risks and contingent fiscal liabilities partly offset these strengths.”

(theinvestor@heraldcorp.com)