Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for WTT HK Ltd. > News item |
Moody's rates WTT notes B1
Moody's Investors Service said it assigned a B1 corporate family rating to WTT HK Ltd.
The agency also said it assigned a B1 rating to the proposed senior unsecured notes to be issued by WTT Investment Ltd. and guaranteed by WTT HK.
The outlook is stable.
The proceeds will be used to refinance the holding companies' existing indebtedness, namely a senior term loan of HK$4.2 billion and a mezzanine loan of HK$800 million, Moody's said.
The ratings reflect WTT's competitive position in Hong Kong's enterprise fixed-line telecom market, established network infrastructure with modest capital expenditure needs, diverse customer base and high profitability, the agency said.
The ratings are constrained by WTT's elevated financial leverage, high concentration in geography and business, Moody's said, and relatively modest scale as compared to some of its rated fixed-line telecom peers globally.
© 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.