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Prospect News home > News index > List of issuers L > Headlines for L-3 Communications Holdings, Inc. > News item |
S&P rates L-3 notes BB-
Standard & Poor's said it assigned its BB- rating to L-3 Communications Corp.'s proposed $500 million senior subordinated notes due 2014 and affirmed its other ratings, including the BB+ corporate credit rating, on the company.
The outlook is positive.
S&P said the ratings on L-3 Communications reflect an average business profile, satisfactory profitability and cash generation, and the risks of an active acquisition program. Credit quality benefits from an increasingly diverse program base, efficient operations, and the favorable environment for defense spending.
The proceeds from the new notes will be used to redeem the company's $200 million 8% subordinated notes due 2008 and to fund acquisitions.
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