Posted September. 21, 2005 07:22,
The economic impact of the agreement in the six-party talks has started to emerge.
One of the three major credit rating institutions, Fitch Ratings, announced on September 20 that it may revise Koreas ratings upwards.
If Fitch places Koreas ratings at A+, a notch higher than the current A, the sovereign credit rating of Korea will be only one grade from AA-, the level prior to the financial crisis in 1997.
Stock prices soared as well.
The Korea Composite Stock Price Index (KOSPI) closed at 1,190.93, up 16.80 points or 1.43 percent since September 16, the final trading day of last week. KOSDAQ also finished up 6.99 points, or 1.3 percent, at 543.59 points.
Standard & Poors (S&P) stated, We have no plans to upgrade Koreas ratings since this agreement is not a final conclusion of the North Korean nuclear standoff.