Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Real-Time Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00008 PCCW
RTNominal up4.670 +0.020 (+0.430%)

29/08/2019 10:03

S&P revises outlook for HKT to negative; "BBB" affirmed

[ET Net News Agency, 29 August 2019] S&P Global Ratings revised the outlook for Hong
Kong Telecommunications (HKT) Ltd. to negative from stable based on increased debt
leverage at PCCW Ltd (00008).
As PCCW is the controlling shareholder and ultimate parent of HKT, the credit rating
agency takes a consolidated view of the outlook on both entities.
At the same time, S&P affirmed its 'BBB' long-term issuer credit rating on HKT and 'BBB'
long-term issue rating on the company's unsecured debts.
S&P said the negative outlook reflects its view that debt leverage at the PCCW level
will remain elevated at 4.5x and is unlikely to quickly improve. As of 30 June 2019,
PCCW's debt-to-EBITDA ratio increased to 4.5x, from 4.2x at the end of 2018. This was
driven by a combination of increased investment in non-telecom businesses at PCCW and the
adoption of international reporting financial standard (IRFS) 16.
The agency assesses HKT and its immediate parent HKT Trust and HKT Ltd. (06823), which
fully owns HKT, on a combined basis. HKT Trust is a subsidiary of PCCW under the trust
structure, and both entities have certain overlaps in board members. Debt leverage at HKT
Trust, on a consolidated basis, had been fairly stable at 3.4x over the past six months.

Remark: Real time quote last updated: 05/12/2019 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2019 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.