Fitch rates South Korea bond A+

Fitch Ratings said it assigned an expected long-term foreign-currency rating of A+ to the Republic of Korea's (rated foreign-currency issuer default A+ with stable outlook) forthcoming benchmark dual-currency dollar- and euro-denominated global bond.

South Korea's sovereign creditworthiness continues to be supported by its fiscal conservatism and healthy external finances, Fitch said. The Republic's foreign-exchange reserves, liquidity ratio and net external creditor position are fundamental rating strengths compared with the A-rated peer group.

Uncertainties in the global environment, currency strength and high oil prices pose some downside risk on the country's economic growth in 2007, the agency added.

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