South Korea Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
South Korea	Aa2 Stable	AA Stable	AA- Stable	NR	NR

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
South Korea	Oct 14, 2025	Moody's	Aa2	Stable	Aa2	Stable
South Korea	Aug 08, 2016	S&P	AA-	Stable	AA	Stable
South Korea	Dec 18, 2015	Moody's	Aa3	Positive	Aa2	Stable
South Korea	Sep 15, 2015	S&P	A+	Positive	AA-	Stable
South Korea	Apr 10, 2015	Moody's	Aa3	Stable	Aa3	Positive
South Korea	Sep 19, 2014	S&P	A+	Stable	A+	Positive
South Korea	Sep 13, 2012	S&P	A	Stable	A+	Stable
South Korea	Sep 06, 2012	Fitch	A+	Positive	AA-	Stable
South Korea	Aug 27, 2012	Moody's	A1	Positive	Aa3	Stable
South Korea	Apr 02, 2012	Moody's	A1	Stable	A1	Positive
South Korea	Nov 07, 2011	Fitch	A+	Stable	A+	Positive
South Korea	Apr 14, 2010	Moody's	A2	Stable	A1	Stable
South Korea	Sep 01, 2009	Fitch	A+	Negative	A+	Stable
South Korea	Nov 09, 2008	Fitch	A+	Stable	A+	Negative
South Korea	Jul 25, 2007	Moody's	A3	Positive Watch	A2	Stable
South Korea	Jul 03, 2007	Moody's	A3	Positive	A3	Positive Watch
South Korea	Apr 25, 2006	Moody's	A3	Stable	A3	Positive
South Korea	Oct 23, 2005	Fitch	A	Positive Watch	A+	Stable
South Korea	Sep 19, 2005	Fitch	A	Stable	A	Positive Watch
South Korea	Jul 27, 2005	S&P	A-	Stable	A	Stable

Table Key

Grade	Moody's	S&P	Fitch	DBRS	Scope Ratings
Prime	Aaa	AAA	AAA	AAA	AAA
High Grade	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Upper Medium Grade	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Lower Medium Grade	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Non-investment Grade Speculative	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CCC	CC
Extremely Speculative Grade			C	CCC	C
In Default with Little Prospect for Recovery		CD	RD	RD
In Default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Not Rated	NR	NR	NR	NR	NR

FAQ

What is South Korea’s current credit rating?

South Korea’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view South Korea’s credit risk.

Has South Korea’s credit rating changed recently?

This page lists the latest rating and outlook actions for South Korea, showing when each agency last reviewed or changed its assessment.

Why does South Korea’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence South Korea's bond yields, currency, and equity flows as investors reassess risk.

How does South Korea’s rating compare to other countries?

You can explore how South Korea ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.