S&P rates KT senior notes A-

S&P said it assigned its A- long-term issue rating to the U.S. dollar-denominated senior notes that KT Corp. (A-/stable/--) proposes to issue.

The company plans to use the proceeds mainly for the refinancing of maturing debt.

“The rating on KT Corp. reflects its strong position in Korea's telecommunications industry and stable operating cash flows, which are somewhat mitigated by its 5G network investment burden and market saturation,” S&P said in a news release.

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