S&P boosts Far EasTone

Standard & Poor's said it raised its long-term foreign currency corporate credit rating on Far EasTone Telecommunications Co. Ltd. to A- from BBB+.

The outlook is stable.

S&P said the rating action reflects the marked improvement in Far EasTone's financial risk profile, as evidenced by its substantial debt reduction, with total debt down to NT$9.6 billion as of the end of 2005 from NT$22.8 billion as of the end of 2004.

Moreover, the competitive environment remains favorable for the market's three dominant operators, the agency said, noting, however, that the company faces limited growth opportunities in a mature and saturated market.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.