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S&P lowers KT view to stable
Standard & Poor’s said it revised KT Corp.’s outlook to stable from negative.
The agency also said it affirmed the company’s A- long-term corporate credit and debt ratings.
The outlook revision reflects an expectation that KT will modestly improve its operating performance and financial metrics over the next 12 months, S&P said.
The improvement in operating performance will be mainly attributable to more efficient cost controls due to labor restructuring, less intense market competition in the wireless industry and continued growth in the company’s Internet protocol television (IPTV) subscribers, the agency said.
However, KT also is facing ongoing pressure from revenue declines in its fixed-line voice business, S&P said.
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