Fitch ups LG Electronics

Fitch Ratings said it upgraded LG Electronics Inc.'s long-term foreign-currency issuer default rating to BBB from BBB-.

The outlook is stable.

The upgrade reflects LG's improved consolidated operating numbers for the 2007 financial year and Fitch's view on the company's likely ongoing financial improvement in 2008.

LGE recently reported consolidated revenues of KRW53.4 trillion with an EBITDAR margin of 12.8% in 2007, which compares favorably with an 8.1% EBITDAR margin in 2006, the agency said.

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