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Moody’s Investors Service said Friday it has upgraded its corporate family rating of Qwest Communications International Inc. to “Ba1” from “Ba2,” due to the company’s success in repaying debt and to its “solid financial results.”
The “Ba1” rating is one step below investment grade.
Moody’s said Qwest has been able to improve margins as cost cuts and growth programs continue to offset revenue declines within the company’s legacy landline services.
