Fitch: CenturyLink still on watch

Fitch Ratings said it is maintaining the issuer default ratings of CenturyLink, Inc. and Embarq Corp. on rating watch negative.

Certain security ratings of Embarq and its local telephone subsidiaries have been affirmed with a stable outlook, the agency said.

This updates Fitch's six-month review of the rating watch status following the placement of the company's ratings on rating watch negative on April 22, the agency said, noting that CenturyLink and Qwest Communications International, Inc. have a pending agreement to merge in an all-stock transaction.

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