Moody's upgrades LG Electronics

Moody's Investors Service said it upgraded LG Electronics Inc.'s issuer and senior unsecured ratings to Baa2 from Baa3. This concludes a review that began in November.

The outlook is stable.

The upgrade was prompted by the company's strong and sustainable operating track record despite the market downturn, Moody's said.

Structural improvements in product quality, distribution network efficiency, and balance sheet management has prompted its market share gain and margin recovery, the agency said.

The rating is constrained by the company's exposure to the volatile display business, Moody's added.

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