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S&P rates KT bonds A
Standard & Poor's said it assigned an A rating to KT Corp.'s proposed senior unsecured samurai bonds.
The agency said it expects the proposed issuance to be about ¥20 billion with a maturity of two years.
The proceeds will be used to repay maturing existing debt.
The rating reflects the company's dominant position in Korea's telecommunications market, its improved competitiveness in the wireless business, strong operating cash flow and modest financial risk profile, S&P said.
The rating also takes into account the company's declining revenue from fixed-line telephony services and the saturated and very competitive telecommunications market in Korea, the agency said.
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