S&P assigns KT bonds A-

Standard & Poor's said it assigned its A- rating to KT Corp.'s (A-/stable) proposed $200 million senior unsecured euro bonds due 2012, adding that the rating on the senior unsecured bonds is subject to final documentation.

"The rating on KT Corp. reflects the company's strong and stable cash-generating ability, backed by its dominant position in the Korean fixed-line telephony market and improving debt levels," said S&P credit analyst JaeMin Kwon.

"At the same time, the rating takes into account the company's exposure to rising competition in the fixed-line telephony, broadband and wireless service markets."

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