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Fitch ups Qwest Communications
Fitch Ratings said it upgraded the issuer default rating of Qwest Communications International, Inc. to BBB- from BB and its senior notes to BBB- from BB+, removed Qwest's ratings from Rating Watch positive and assigned a stable outlook.
The actions reflect Fitch's review of Qwest's ratings following the placement on Rating Watch positive on April 22, 2010 upon the announcement of CenturyLink, Inc. and Qwest's agreement to merge in an all-stock transaction, Fitch said. The transaction closed on April 1, 2011.
On March 22, Fitch affirmed the issuer default rating of CenturyLink at BBB-, removed the company's ratings from Rating Watch negative and assigned a stable outlook.
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