The outlook is stable, Moody’s said.
It said the upgrade was driven by four factors linked to the country's reform package - approval of a comprehensive reform agenda, which reflects political will to address long-standing structural issues; improved medium-term economic prospects associated with higher potential growth that is likely to result from the comprehensive reform package; a strengthened fiscal outlook that incorporates higher government savings and additional buffers; and an overall credit profile that is similar to that of other A-rated countries.
reporter
Park Sae-jin
swatchsjp@ajunews.com