S&P gives HKT notes BBB

S&P said it gave its BBB long-term issue rating to HKT Capital No. 6 Ltd.'s planned dollar-denominated unsecured notes. The issuer is a direct wholly owned subsidiary of Hong Kong Telecommunications (HKT) Ltd., and the notes will be guaranteed by HKT and its parent HKT Group Holdings Ltd.

“We rate the notes the same as the issuer credit rating on HKT, considering minimal subordination risk in the company's capital structure,” S&P said in a press release.

HKT will use the proceeds for general corporate purposes, including repaying debt.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.