Moody's lifts KT

Moody's Investors Service said it upgraded KT Corp.'s senior unsecured ratings to A3 from Baa1, reflecting the stabilization evident in KT's financial and business risk profile as well as a significant decrease in refinancing risk since year-end 2004.

The outlook is stable.

The ratings reflect the company's leading position in the Korean telecommunications market and its position to benefit from growth in broadband technologies, Moody's said.

At the same time, the agency said the rating considers the growing migration of fixed-line voice traffic to mobile, a trend which will gradually diminish the contribution of fixed-voice revenues.

Moody's noted that in recent years, KT had stabilized its credit profile and overcame challenges that included a shift in the regulatory environment.

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