SEJONG, Jul. 10 (Korea Bizwire) — Global rating agency Standard & Poor’s has sharply slashed its growth forecast for South Korea’s economy this year to 2 percent due to rising uncertainty about the global trade outlook and weaker consumption. The latest estimate represented a sharp downward revision from its previous forecast of 2.4 percent in [...]
SEOUL, Oct. 13 (Korea Bizwire) – International ratings agency Standard and Poor’s said Thursday the global recall and discontinuation of the Galaxy Note 7 smartphone will not affect its ratings on Samsung Electronics Co. “We believe the impact on the ratings will be limited at this stage” mainly due to Samsung’s significant net cash holdings [...]
SEJONG, Aug. 8 (Korea Bizwire) – Global credit appraiser Standard & Poor’s (S&P) raised South Korea’s sovereign rating one notch to a record high of AA from AA- on Monday, with a stable outlook on the country’s steady growth and flexible fiscal and monetary policies. “The upgrade reflects our assessment that Korea’s strong record of [...]
SEOUL, Nov. 8 (Korea Bizwire) — A large number of South Korean companies have suffered credit rating downgrades this year due to poor performances stemming from protracted sluggish demand, despite an upgrade in the country’s sovereign rating, market data showed Sunday. According to the data compiled by Korea Investors Service Inc., one of the three [...]