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Technology Stocks : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (1588)	7/10/2001 10:11:23 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

PCCW-HKT Capital's 2.5 bln usd proposed bond issue rated 'BBB' - S&P 2001-07-11 Terms and Conditions PCCW-HKT Capital Ltd's proposed 2.5 bln usd senior unsecured bond issue has been assigned a 'BBB' rating by Standard & Poor's. The bonds will be unconditionally guaranteed by PCCW-HKT Telephone Ltd. In a statement, S&P said PCCW-HKT plans to use the bond issue to partially refinance the 4.7 bln usd in bank loans it took to buy Cable & Wireless HKT and to extend its debt maturity profile. The rating reflects the company's dominant position in Hong Kong's fixed line telecommunications market, its ability to generate relatively stable cash flows and its strong operating efficiency and a state-of-the-art network, S&P said. It added that these strengths are partially offset by a competitive domestic market and the heavy debt burden of parent company, Pacific Century Cyberworks Ltd. ra/lmf For more information and to contact AFX: www.afxnews.com and www.afxpress.com Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved.