S&P affirms Genband

Standard & Poor's said it affirmed its B corporate credit rating on Genband Holdings

Co.

At the same time, the agency said it removed the ratings from Creditwatch with negative implications, where they were placed on July 12.

The outlook is negative.

"The ratings reflect its expectation that the Nortel CVAS business integration has been largely completed," said S&P credit analyst William Backus, "and that any additional restructuring expenses will be minimal."

The agency added that it expects that EBITDA generation will substantially improve during the second half of 2011, reflecting typical seasonality and the benefit from new product offerings of the merged operations.

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