Global credit rating agency Moody's projected South Korea to suffer the smallest growth contraction among developed nations facing fallout from the coronavirus pandemic.

In its latest report on Tuesday, Moody's revised down its 2020 growth outlook for South Korea from point-one percent to negative point-five percent.

The agency's outlook for the Group of 20(G20) major economies further dipped from negative point-five percent to negative four percent.

With South Korea forecast to see the smallest negative growth among the ten developed nations within the G20, Moody's projected negative growth of five-point-seven percent and six-point-five percent for the United States and Europe, respectively.

Among emerging economies, the agency expected China to post one-percent growth and the Indian economy to expand point-two percent.