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Wednesday, January 07, 2009 5:48:02 PM
Standard & Poor's raises rating to B-
By Jeff Smith, Rocky Mountain News (Contact)
Published January 6, 2009 at 12:05 a.m.
Standard & Poor's on Monday raised the corporate credit rating on Level 3 Communications to a B- from a selective default based on the completion of a debt buyback program designed to give the Broomfield-based communications carrier some breathing room. The move was expected.
Such a rating means Level 3 is considered to be vulnerable but has the current capacity to meet its financial commitments.
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