S&P: HKT on Credit Watch

Standard & Poor's said it kept the BBB long-term corporate credit rating and the cnA- Greater China credit scale rating on Hong Kong Telecommunications Ltd. (HKT) on CreditWatch.

The agency also said it maintained the CreditWatch status for the BBB ratings and cnA- Greater China credit scale rating on the company's outstanding notes.

The agency said it initially placed all the ratings on CreditWatch with negative implications in March.

The watch status reflects the continued uncertainties associated with the proposed deleveraging plans st Hong Kong Telecommunication's parent, PCCW Ltd.

S&P said the company's debt remains high for the BBB rating.

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