S&P ups PCCW-HKT outlook to positive

Standard & Poor's said it revised its outlook on the rating on PCCW-HKT Telephone Ltd. to positive from stable.

At the same time, S&P said it affirmed its BBB long-term corporate credit rating on the company and also affirmed its BBB issue rating on the senior unsecured debt issued or guaranteed by PCCW-HKT.

The outlook revision reflects the steady improvement in profitability of parent, PCCW Ltd, the agency said, noting that the rating affirmations reflect PCCW-HKT's leading position in Hong Kong's fixed-line telecommunications market.

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