Moody's confirms KT

Moody's Investors Service said it confirmed KT Corp.'s A3 senior unsecured rating with a positive outlook. This action concludes the review for upgrade that began in April.

The confirmation reflects Moody's expectation that while a recent debt reduction initiative has improved KT's financial leverage, the highly challenging competitive environment presents some uncertainties if the company is to turn around its deteriorating profit margin and strengthen its operating profile.

The rating reflects KT's leading position in the South Korean telecommunications market, the agency said.

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