Far EasTone Telecommunications Co. Ltd. Aug 11

Standard & Poors, August 2011

Abstract
Top three mobile phone operator in Taiwan's oligopoly telecommunications market Modest financial risk profile Profitability pressure from regulatory action Stagnant growth prospects in the saturated domestic market The ratings on Far EasTone Telecommunications Co. Ltd. reflect the company's strong position in Taiwan's oligopoly wireless telecommunications market and the company's modest financial risk profile. Far EasTone's limited growth prospects in the saturated market and the profitability pressure from regulatory action partly offset these strengths. In our view, Far EasTone's strong market position in the oligopoly domestic wireless telecommunication market will continue to help the company generate solid cash flows over the next two years. Far EasTone had a 26% market share in terms of service revenue for the first quarter of...

Companies mentioned in this report are: Far EasTone Telecommunications Co. Ltd.,Telstra Corp. Ltd.,NTT DOCOMO Inc.,Chunghwa Telecom Co. Ltd.,Taiwan Mobile Co. Ltd.,Singapore Telecommunications Ltd.,Far Eastern New Century Corp.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Far EasTone Telecommunications Co. Ltd.,Telstra Corp. Ltd.,NTT DOCOMO Inc.,Chunghwa Telecom Co. Ltd.,Taiwan Mobile Co. Ltd.,Singapore Telecommunications Ltd.,Far Eastern New Century Corp.

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