Moody's boosts China Mobile

Moody's Investors Service said it upgraded China Mobile Hong Kong Ltd.'s (CMHK) senior unsecured rating to A2 from A3.

The agency said the action reflects continued evidence of growth and robustness in CMHK's operating and financial profiles and Moody's view that regulatory and industry structure uncertainty in China is manageable at the A2 level given the considerable financial flexibility CMHK has and the track record of such issues being handled in a measured way.

The outlook is stable.

On the other side, Moody's said it remains concerned by the ongoing relatively undeveloped state of China's regulatory regime and the uncertainty prevailing over the eventual form of its telecommunications market.

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