S&P cuts LG view to negative

Standard & Poor's said it revised to negative from stable the outlook on the long-term corporate credit rating of LG Electronics Inc., primarily reflecting the company's deteriorating competitive position in its handset business.

S&P also said it affirmed its BBB long-term corporate credit rating and long-term senior debt rating on the company.

The outlook revision reflects LG Electronics' deteriorating competitive position, as its weaker-than-expected operating performance demonstrates, the agency said.

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