South Korea's sovereign debt risks down
Seoul, Sep 7 (IANS) South Korea's sovereign debt risks fell sharply after rating appraiser Fitch upgraded the country's sovereign rating to "AA-minus", data showed Friday.
According to the Korea Center for International Finance, the country's five-year credit default swap (CDS) premium, or the cost of hedging against losses on sovereign debt, came in at 91 basis points (bps) overnight in New York, down 8 bps from the previous session, reported Xinhua.
The easing default risk came after Fitch Thursday revised up the country's sovereign rating by one notch to "AA-minus", one grade higher than those for China and Japan, to which "A+" rating was assigned by the agency.
Around 10 days back, another rating appraiser Moody's upgraded the sovereign rating by one notch to "Aa3", equaling those of China and Japan.
South Korea's sovereign debt risks stayed at a high level, surging to 161 bps at the end of last year, but the risks slid at a gradual pace this year amid easing concerns over external uncertainties to 99 bps on Wednesday in the New York trading. The figure was higher than 85 bps for Japan, but was lower than 110 bps for China.
Read More: Japan | North Korea | South Korea | China | South Delhi | South West Delhi | South Goa | South 24 Parganas | South Dinajpur | South Sikkim | South Garo Hills | South Tripura | South City-i | South City-ii | Korea | Korea Colly | China Nandigama | China Garlapadu | China Dhab | Benta South S.o
D-DAY ISN'T INSPIRED BY ANY PERSON ALIVE OR DEAD-NIKHIL ADVANI
May 24, 2013 at 3:42 PM
WILL VEENA MALIK AS SEX WORKER IN ZINDAGI 50-50 WOO AUDIENCE?
May 24, 2013 at 3:20 PM
BLIND GIRL TOPS HUMANITARIAN GROUP Of CLASS 12TH
May 24, 2013 at 3:15 PM