Fitch rates KT bond A-

Fitch Ratings said it assigned an expected rating of A- to KT Corp.'s proposed dollar-denominated bond.

The proceeds will be used to refinance existing debt and general corporate purposes, Fitch said.

The notes are rated at the same level as KT's senior unsecured rating as they represent direct, unconditional, unsecured and unsubordinated obligations of the company, the agency said.

Fitch said it expects KT's margins continue to benefit from lower marketing and selling, general and administrative costs after restructuring in the short term.

Contraction in fixed-line voice revenue is likely to be offset by solid growth in internet protocol television (IPTV) and media business, the agency said.

Fitch also said it expects KT to report solid margins in 2016 similar to the 2015 level.

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