Fitch gives KT bond A(exp)

Fitch Ratings said it assigned KT Corp.'s proposed Swiss franc bond an expected rating of A(exp).

The net proceeds from the offering will be used principally to repay existing debt maturing in early 2012 and for general corporate purposes, the agency said, noting that it does not foresee any material impact on the company's credit profile.

The bond's rating is in line with KT's long-term foreign currency issuer default rating of A, which has a stable outlook.

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