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Fitch rates LG TeleCom BB
Fitch Ratings said it assigned LG TeleCom Ltd. a BB senior unsecured foreign currency rating.
The outlook is stable.
Fitch said the rating reflects its stable operating position, reputation as an innovative service provider and the company's sound cash flow generation. Much of this is attributable to the fact that LG TeleCom benefits from Korea's asymmetric regulatory policy as well as its association with the LG Group.
Even though LG TeleCom's market position has marginally improved, subscriber growth is likely to slow owing to the market's maturity, Fitch said. Moreover, Fitch said it considers LG TeleCom vulnerable to the larger operators - persistent intense competition has contributed to its higher leverage and lower margins compared to its competitors.
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