Moody’s assigns A3 to SK Broadband notes

Moody's Investors Service said it assigned an A3 rating to the proposed senior unsecured dollar-denominated notes to be issued by SK Broadband Co., Ltd.

"SKB's A3 rating incorporates its solid underlying credit strength and a two-notch rating uplift, reflecting our expectation that the company will receive support from its parent SK Telecom Co., Ltd. (SKT, A3 stable) if needed," said Sean Hwang, a Moody's assistant vice president and analyst, in a press release.

The issuer plans to use the proceeds for general corporate purposes, including the repayment of maturing debt.

The outlook on SKB is stable.

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