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    South Korean Credit Rating to Remain Stable Despite President Impeachment - S&P

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    The long-term sovereign credit rating of South Korea currently, estimated at "AA" level with a stable outlook, was not affected by the impeachment of South Korean President Park Geun-hye, according to Standard & Poor's Global Rating Agency (S&P).

    MOSCOW (Sputnik) — The impeachment of South Korean President Park Geun-hye will not affect the sovereign credit rating of the country, according to Standard & Poor's Global Rating Agency (S&P).

    "The effective Korean bureaucracy will keep the government running smoothly although the political uncertainty could remain a distraction to policy-makers for some time," the rating agency said in a statement, as quoted by South Korea's KBS World Radio.

    The long-term sovereign credit rating of South Korea currently is estimated at "AA" level with a stable outlook. The short-term sovereign rating is set at the level of "А-1+" by S&P.

    On Friday, South Korea's parliament voted in favor of removing Park from office, as the president was at the center of a scandal around "secret adviser" Choi Soon-sil, who is said to have pressured the county's biggest corporations and extorted money from them for her non-commercial funds abroad.

    South Korea's Prime Minister Hwang Kyo-ahn has become acting president until the constitutional court approves or rejects the motion.

    Related:

    South Korean President Accepts Parliament's Impeachment Vote
    South Korean Parliament Votes in Favor of President's Impeachment
    Activists Rallying Near South Korean Parliament Amid Impeachment Vote
    South Korean Parliament to Vote on President Impeachment on Friday
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    economic forecast, Standard & Poor (S&P), Park Geun-hye, South Korea
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