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S&P ups LG TeleCom from junk
Standard & Poor's said it raised the long-term corporate credit rating on LG TeleCom Ltd.'s to BBB- from BB+ reflecting the company's improved financial position.
The outlook is stable.
The upgrade reflects the steady improvement in LG TeleCom's financial risk profile over the past few years, as well as its proven ability to maintain a sound financial risk profile throughout the current challenging business environment, according to the agency.
The company's debt-to-EBITDA ratio improved to 1.3x from 1.8x.
S&P said the action is also based on the view that LG will successfully cope with expected uncertainties related to investment costs in 4G technology and frequency spectrum fees in the next two to three years.
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