S&P raises L-3 outlook to stable

Standard & Poor's said it revised its outlook on L-3 Communications Corp. and its parent, L-3 Communications Holdings Inc., to stable from negative.

At the same time, the agency said that it affirmed its BBB- corporate credit and other ratings on both entities.

"The outlook revision reflects expectations of a less aggressive acquisition and leverage strategy, as well as an improving financial profile," said S&P's credit analyst Christopher DeNicolo.

The agency said that the ratings on L-3 reflect its position as a leading supplier of defense electronics for numerous weapons systems, solid earnings and cash flow and good program diversity, offset by below average for the rating credit protection measures due to numerous debt-financed acquisitions.

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