Moody's rates Qwest Services revolver B2

Moody's Investors Service said it has assigned a B2 rating to Qwest Services Corp.'s $750 million senior revolving credit facility maturing in 2010. The new bank facility, which may be increased by up to $500 million under certain circumstances, replaces Qwest's existing $750 million revolver that was scheduled to mature in 2007.

Moody's said it also placed Qwest Communications International Inc.'s B2 corporate family rating and the ratings at all other entities in the organization on review for possible upgrade.

Improvements in the agency's expectations for free cash flow in 2006 and 2007 triggered the review, Moody's said.

Ratings placed under review for possible upgrade include Qwest Communications International Inc.'s $2.58 billion senior unsecured notes at B3, 7.50% senior unsecured notes due 2008 at Caa1 and 10.88%, 9.47% and 8.29% senior unsecured notes due 2007 and 2008 at Caa2; Qwest Capital Funding's senior unsecured long-term ratings at Caa2; Qwest Services Corp.'s senior secured bank facility at B2 and senior subordinated notes at Caa1; and Qwest Communications Corp.'s senior unsecured long-term ratings at Ba3.

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