S&P lowers KT

Standard & Poor's said it lowered its long-term corporate credit and debt ratings on KT Corp. to A- from A. The outlook on the long-term corporate credit rating is stable.

The downgrade reflects weaker operating performance at KT than S&P expected and S&P's assumption that key measures of the company's credit quality will remain weaker than would be commensurate with A ratings over the next 12 months.

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