Moody's ups China Mobile

Moody's Investors Service said it upgraded China Mobile (Hong Kong) Ltd.'s senior unsecured ratings to A3 from Baa1.

Moody's said the action reflects China Mobile's continual strong growth, greater certainty regarding its business profile with the likely completion of various acquisitions from its parent and its robust credit profile.

The outlook is positive.

Moody's noted that China Mobile's ratings reflect its position as the leading provider of cellular communications in China, its solid track record of a conservative financial profile and strong operating margins and its ongoing growth potential.

On the other hand, Moody's said the rating also considers the risks associated with potential exposure to shifting political priorities, continued uncertainty over the form and shape of the regulatory environment and scope for more robust competition.

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