Moody's: No change for City Telecom

Moody's Investors Service said it sees no impact on City Telecom (Hong Kong) Ltd.'s Ba3 senior unsecured bond and corporate family ratings after news that the company's has submitted an application for a domestic free television program service license in Hong Kong.

Moody's said it does not have any further details on the timeframe of investment or how it would be funded.

Even if the agency assumed an entirely debt-funded investment over one year, the company's debt-to-EBITDA metrics of 1.0x would remain strong for its rating level, Moody's added.

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