S&P applies A- to KT bonds

S&P said it assigned its A- long-term issue rating to dollar-denominated senior unsecured bonds that KT Corp. (A-/stable/--) proposes to issue.

The company plans to use the proceeds for general corporate purposes, including refinancing.

S&P said the ratings reflect KT’s strong position in Korea's telecommunications market and its stable operating cash flows. The agency expects KT to maintain stable financial metrics over the next one to two years, mainly due to continued growth in its Internet protocol television (IPTV) business and less intense competition in the wireless market, despite declining revenues in the fixed-line voice business.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.