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Korea`s credit rating ranks 47th out of 185 nations

Posted March. 27, 2001 13:38,   


Korea fell 10 places in six months to 47th on a ranking of the credit standings of 185 countries worldwide.

Euromoney, an international financial magazine published in Britain, reported in its March issue that Korea earned 62.53 points out of a possible 100 in its assessment of national credit ratings. Korea was ranked 37th in Euromoney`s 2000 evaluation.

The magazine said that Korea`s corporate and financial restructuring were stalled and that the nation was suffering under the same recession plaguing all of East Asia, adding that Korea`s point loss was not that great considering its slide in rankings.

The magazine ranked Luxembourg and Switzerland first and second, as it did last year. Norway, which finished fourth in 2000, inched up to third, while fourth and fifth spots went to Denmark and the United States, respectively. North Korea`s ranking slid to 185th, the lowest among all countries surveyed.

Moon Kwon-Mo africa7@donga.com