Moody's Investors Service is maintaining a high sovereign credit rating for South Korea.

The global rating agency says South Korea is a stable Aa2 --- the third highest rating in the Moody's system.

The rating is based on Korea’s strong economic fundamentals, and use of appropriate fiscal policy to counter slowing growth and keep national debt at stable levels.

Moody’s upgraded South Korea's credit rating from Aa3 to Aa2 last December.