Fitch affirms KT

Fitch Ratings said it affirmed KT Corp.'s long-term foreign and local currency issuer default ratings as well as its senior unsecured rating at A.

The outlook is stable.

“The ratings and outlook on KT are supported by the company's strong market position in the South Korea's oligopoly telecom market, well-established network infrastructure and low leverage,” the agency said in a news release.

“Although we forecast lower operating cash flow generation as a result of a government-driven monthly tariff discount and increasing capex for 5G implementation, the company has sufficient financial buffer to retain its A ratings.”

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