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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: JGoren who wrote (23406)	2/25/1999 1:48:00 AM
From: Ruffian	Read Replies (1) \| Respond to of 152472

JGoren, Good Luck<eom>

To: JGoren who wrote (23406)	2/25/1999 8:56:00 AM
From: Jeff Vayda	Respond to of 152472

All: Upgrade for SK Telecom from Moody. (Thanks Phillips Telecom) Moody's Grows More Sanguine On Outlook For Korea's SK Telecom A top debt-rating agency sees better prospects ahead for SK Telecom Co. Ltd. [SKM], the leading operator of mobile communications services in South Korea. The Sydney, Australia, office of Moody's Investors Service Inc. rates the business outlook for SK Telecom as "stable," a revision upward from its "negative" outlook previously. The revision, covering about $279 million of securities that SK Telecom has outstanding, reflects a number of factors working in the operator's favor, Moody's said. SK Telecom held about 40 percent of the Korean wireless market at the end of 1998, a share that equates to a base of some 5.4 million subscribers. The company, Moody's said, "has been able to maintain solid growth" in adding subscribers to its CDMA network, more than making up for the phasing out of its analog system and a falloff in paging customers. At the same time, Moody's noted that SK Telecom has largely completed its nationwide CDMA deployment, resulting in lower capital spending and depreciation expenses. The company "is well positioned to take advantage of any convergence of fixed/cellular and voice/data traffic, with data transmission expected to be a strong growth driver," Moody's added. "Korea is no different from most other cellular markets in that average revenue per user has fallen with the growth of competition," Moody's said. "SK Telecom's challenge will be to manage the rate of reduction in ARPU such that revenue growth is assured from the impact of an increasing subscriber base." (Charles Macgregor, Moody's Investors Service, +61-2-9270-8100.)