S&P: L-3 Communications unchanged

Standard & Poor's said its ratings and outlook on L-3 Communications Corp. (BBB-/negative) and its parent, L-3 Communications Holdings Inc. (BBB-/negative), are not affected at this time by the sudden death of L-3s co-founder and chief executive officer Frank Lanza.

Although there is not expected to be any material impact on day-to-day operations, Lanza was very well respected within the defense industry and Department of Defense and was the driver of the company's successful growth strategy through acquisitions, the agency said.

The future strategy is now uncertain, but could result in a company that relies more on organic growth and a less-aggressive capital structure, S&P noted.

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