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S&P: Impeachment Passage Won't Impact Credit Rating

Written: 2016-12-12 15:21:04Updated: 2016-12-12 17:24:43

S&P: Impeachment Passage Won't Impact Credit Rating

Global ratings agency Standard and Poor's said Monday that the impeachment of President Park Geun-hye won't impact South Korea's credit rating.
 
In a statement, S&P says “the effective Korean bureaucracy will keep the government running smoothly although the political uncertainty could remain a distraction to policy-makers for some time.”
 
The agency predicts limited effect on domestic economic sentiment, saying South Korea will see its state affairs normalize based on its mature institutional framework.  
 
S&P's current rating for South Korea is AA.

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