Fitch raises Lucent

Fitch Ratings said it upgraded the senior unsecured debt of Lucent Technologies to B from B- and the rating of the subordinated convertible debentures and convertible trust preferred securities to CCC+ from CCC.

The outlook is revised to positive from stable.

Fitch said the ratings upgrade reflects Lucent's continued improvement in quarterly operating performance driven by a stabilized and growing wireless telecommunications equipment end market, improved cost structure, and return to profitability. Lucent's strengthened balance sheet, as a result of the company's debt retirement efforts, and manageable near-term debt obligations also support the ratings action.

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