Fitch rates KT bond A-

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

Fitch said it expects KT's margins to continue to benefit from lower marketing and selling, general and administrative costs following a restructuring to streamline its business and labor force.

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

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