Fitch rates KT bonds A

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

The proceeds will be used to refinance existing debt.

The bonds are rated at the same level as KT's senior unsecured rating as they represent its direct, unconditional, unsecured and unsubordinated obligations, Fitch said.

The ratings reflect the company's position as a diversified telecommunications operator in Korea's oligopoly-like market, with a leading position in fixed-line voice, broadband and pay-TV services, the agency said.

The company also is well-entrenched as the second-largest mobile-service operator, Fitch said.

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