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Moody's rates KT bond A3
Moody's Investors Service said it assigned an A3 rating to the proposed senior Japanese yen bond to be issued by KT Corp.
The outlook is stable.
The proceeds will be used to refinance existing indebtedness.
As a result, the agency said it expects the transaction will be essentially leverage neutral and will have minimal impact on KT's total outstanding debt and adjusted debt-to-EBITDA leverage ratio, Moody's said.
The agency said it believes the prospective issuance enhances the company's debt maturity profile and positively impacts KT's liquidity position.
The ratings continue to reflect KT's leading position in Korea's telecommunications market, Moody's said, and incorporates the ongoing development of internet protocol television and potential for greater bundling opportunities.
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