Moody’s assigns A3 to KT notes

Moody's Investors Service said it assigned an A3 rating to KT Corp.’s proposed senior unsecured dollar-denominated notes.

The outlook is stable.

KT plans to use the proceeds to refinance its maturing long-term debt and for general working capital purposes.

"The A3 rating primarily reflects KT's low financial leverage and competitive strength as a fully integrated telecommunications operator, with significant market shares across all major segments in its home market of Korea," Moody's vice president and senior analyst Gloria Tsuen said in a news release.

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