Fitch rates KT bond A-

Fitch Ratings said it assigned a final rating of A- to KT Corp.'s dollar-denominated senior unsecured bond.

The proceeds will be used to refinance existing debt and for 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.

The assignment of the final rating follows the completion of the bond issuance and receipt of documents conforming to the information previously received. The final rating is the same as the expected rating assigned July 11, Fitch said.

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

Fitch said it expects KT's leverage to remain at a healthy level in 2016 with higher operating cash flows and moderate capital expenditure.

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