Moody's affirms Hutchison Whampoa

Moody's Investors Service said it affirmed the A3 debt ratings of Hutchison Whampoa Ltd. following the company's release of its full-year results.

The outlook remains stable.

The company's consolidated financial profile has continued to show year-on-year improvements on the back of the steady growth in its established businesses and the turnaround in its 3G operations, Moody's said.

However, 3G's performance is still short of the company's targets and the achievement of EBITDA less breakeven for all customer acquisition costs in the first half of fiscal year 2007 appears very challenging, the agency added.

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