Seoul: Global credit appraiser Fitch Ratings said Friday it has reaffirmed South Korea's sovereign rating at "AA-" with a stable outlook.

According to Yonhap News Agency, the rating is the fourth-highest level on the agency's sovereign ratings table. Fitch has consistently maintained this rating for South Korea since September 2012, when it was upgraded by one notch from A+.

The agency attributed the reaffirmed rating to South Korea's robust external finances, a dynamic export sector, and stable macroeconomic performance despite geopolitical risks related to North Korea.