S&P rates Korea global bond A-

Standard & Poor's said it assigned its A- rating to Korea's (foreign currency A-/stable/A-2, local currency A+/stable/A-1) proposed $1 billion global bond issue due 2014.

"Standard & Poor's ratings on Korea reflect its economic, fiscal and external strengths," said S&P credit analyst Takahira Ogawa.

Korea has the highest trend growth among OECD countries. The general government has maintained fiscal surpluses since 2000, at an average of 1.5% of GDP (including social security and excluding lending to the financial sector).

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