Moody's assigns KT notes A3

Moody's Investors Service said it assigned KT Corp.’s planned senior unsecured dollar-denominated bonds an A3 rating.

"The A3 rating reflects KT's competitive strength as a fully integrated telecommunications operator, with robust market shares across all key product segments in Korea, as well as its moderate financial leverage and large cash holdings," said Sean Hwang, a Moody's assistant vice president and analyst, in a press release.

KT plans to use the proceeds to refinance debt.

The outlook is stable.

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