S&P rates LG Telecom

Standard & Poor's said it assigned its long-term BB+ corporate credit rating to Korea's LG Telecom Ltd. and its BB+ senior unsecured debt rating to LG Telecom's proposed global notes of up to $300 million due June 2009.

The outlook on the long-term rating is stable.

"The rating on LG Telecom is based on the company's stable and defendable market position as the smallest of Korea's three wireless operators, while also acknowledging its somewhat weak financial profile," said S&P credit analyst Eun Jin Kim.

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