Moody's says SK Telecom sale is positive

Moody's Investors Service said that SK Telecom Co., Ltd.'s sale of a part of its stake in Posco is credit positive, but will not have any immediate impact on its issuer rating.

The outlook remains negative.

"The stake sale is credit positive as proceeds will be deployed toward debt reduction and so should help bring down leverage," Moody's assistant vice president and analyst Yoshio Takahashi said in a news release.

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