KT Corp upgraded to 'A' on strengthened financial profile - Fitch |
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Mon, 02 Jul 2007 14:37
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MUMBAI (Thomson Financial) - Fitch Ratings said it upgraded KT Corp's long-term foreign currency issuer default rating to 'A' from 'A-' with a stable outlook based on the South Korea-based telecom service provider's strengthened financial profile.Fitch said the ratings reflect the company's position as Korea's only fully diversified telecom operator with leading market positions in fixed-line voice, data and internet services.The company's liquidity position is also sound, supported by substantial cash balance, available bank credit lines as well as evenly spread debt maturities Fitch said.KT Corp also benefits from its position and strong brand name and has been able to generate robust free cash flow, Fitch noted.tfn.newsdesk@thomson.comndi/ssa/ejpCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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