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KT Corporation -- Moody's assigns A3 rating to KT's proposed JPY bonds

Moody's Investors Service has assigned an A3 rating to the proposed senior unsecured JPY bonds to be issued by KT Corporation (A3 stable). KT plans to use the proceeds from the proposed bonds to refinance existing indebtedness. "The A3 bond rating reflects KT's competitive strength as a fully integrated telecommunications operator, with strong market shares across all its major segments in Korea, as well as its strong financial flexibility," says Sean Hwang, a Moody's Analyst.