Fitch upgrades SK Broadband

Fitch Ratings said it upgraded SK Broadband Co., Ltd.'s long-term foreign- and local-currency issuer default ratings and senior unsecured debt rating to A- from BBB+.

The outlook is stable.

The upgrade reflects strengthened ties between SK Broadband and its parent, SK Telecom Co., Ltd., based on the agency's rating methodology, Fitch said.

The agency said it believes SK Broadband to be of increasing importance to SK Telecom's operations, particularly with respect to its ability to effectively compete against other integrated operators, such as KT Corp.

Fitch noted that the ability to offer mobile-fixed bundled products for SK Telecom remains vital for subscriber acquisition and retention.

The outlook reflects an expectation that the close ties between SK Telecom and SK Broadband will remain intact, the agency said.

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