Fitch team to visit S. Korea this week for economic assessment

SEOUL, July 6 (Yonhap) -- A delegation from the global credit appraiser Fitch
Ratings will visit South Korea this week as part of an annual trip to assess the
nation's economic conditions by meeting with key policymakers, Seoul officials
said Monday.

The two-member delegation headed by lead analyst James McCormack will arrive here
on Wednesday for a three-day stay, according to the Ministry of Strategy and
Finance.
The Fitch team will meet with policymakers from the finance ministry, the
Ministry of Foreign Affairs and Trade, the Financial Services Commission and the
Bank of Korea during its stay here. It is also scheduled to have talks with major
financial institutions.
The government said it will use Fitch's annual visit as a chance to explain the
nation's economic management plan for this year, as well as its fiscal status and
other financial and monetary policy directions.
Fitch has kept its sovereign rating for South Korea at "A plus," the
fifth-highest investment grade, since it upgraded the rating one notch from "A"
in October 2005.
In November, however, the global credit appraiser lowered its outlook for South
Korea's rating from "stable" to "negative," reflecting the impact of the global
financial turbulence on its economy.
kokobj@yna.co.kr
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