S&P lifts SK Broadband

Standard & Poor’s said it raised to A- from BBB+ the long-term corporate credit and debt ratings on SK Broadband Co. Ltd.

The outlook is stable.

The upgrade reflects a view of the strengthening operational and strategic links between SK Broadband and its parent SK Telecom Co. Ltd., S&P said.

Considering the strengthening ties, the agency said it now assesses SK Broadband to be a core subsidiary of SK Telecom instead of a highly strategic one, thus equalizing the ratings on SK Broadband with those on SK Telecom.

The parent company now puts more strategic focus on SK Broadband’s rapidly growing media business, S&P said.

SK Broadband plays a critical role in the group’s growth strategy given the accelerating convergence of the telecommunications and media businesses and the wireless- and fixed-line businesses in Korea, the agency added.

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