Fitch gives SK Broadband bonds A-

Fitch Ratings said it assigned SK Broadband Co., Ltd.'s (A-/stable) proposed dollar-denominated bonds an expected rating of A-.

The company will use the net proceeds to refinance existing debt and for general corporate purposes.

“The notes are rated at the same level as SKB's senior unsecured rating as they represent direct, unconditional, unsecured and unsubordinated obligations of the company,” Fitch said in a news release.

The agency said the relationship between SK Broadband and its parent, SK Telecom Co., Ltd. (A-/stable), is close enough to align the ratings, under Fitch's parent and subsidiary rating linkage criteria.

“We believe SKB continues to maintain its solid position in Korea's pay-TV market as the second-largest operator, underpinned by its strong bundling capability with SKT's wireless services,” Fitch said in the release.

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