Fitch rates KT bonds A

Fitch Ratings said it assigned KT Corp.'s (also known as Korea Telecom Corp.) proposed dollar bonds an expected rating of A.

KT's long-term foreign-currency issuer default rating is A.

The outlook is stable.

Proceeds will be used to repay debt maturing in the first half of 2012 and for general corporate purposes.

The rating reflects KT's position as a diversified telecommunications operator in South Korea, with leading market positions in the fixed-line and broadband businesses, and the second-largest market share in the wireless sector, according to the agency.

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