Moody's ups LG Telecom to Ba1

Moody's Investors Service said it upgraded LG Telecom's foreign-currency corporate family rating and senior unsecured bond rating to Ba1 from Ba2.

The outlook is stable.

The action reflects LG Telecom's strengthening financial and operational profile as demonstrated by its ability to grow subscriber market share in a highly competitive environment, Moody's said and also by its reduction of leverage to investment grade levels.

The agency said the rating is constrained by the company's distant third position in the South Korean cellular telecoms market, the recent changes to the regulatory regime as regards product bundling and the limited scope for growth given the already high market penetration in South Korea.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.