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S&P revises Hong Kong Telecommunications view to negative
S&P said it revised the outlook on Hong Kong Telecommunications Ltd. to negative from stable, citing high debt leverage at the company’s parent PCCW Ltd. that is unlikely to improve quickly.
PCCW is the controlling shareholder. As a result, S&P said it takes a consolidated view of the outlook on both companies.
S&P affirmed Hong Kong Telecommunications’ BBB rating and the BBB long-term issue rating on its unsecured debt.
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