SKT rating upgraded to A2

US-based ratings agency Moody’s Investors’ Service has upgraded the rating of South Korea Telecom (SKT) to A2, one level higher than the A3 rating given to the telco by the government. Moody’s said that the upgrade reflected the operator’s improved financial strength, and claimed that its ratings outlook is ‘stable’. At the end of June 2005 SKT claimed around 18.9 million customers.