Moody's upgrades Motorola

Moody's Investors Service said it upgraded the long-term debt rating of Motorola, Inc. to Baa2 from Baa3 and upgraded the short-term debt ratings to Prime-2 from Prime-3.

The outlook is stable.

The rating upgrade considers the company's broad revenue growth and profitability that have exceeded expectations over the past several quarters, resulting in increased levels of free cash flow relative to declining debt levels, the agency said.

The action also reflects the reduction in earnings volatility and heavy capital requirements resulting from the spin-off of Motorola's semiconductor business, Moody's added.

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