Moody's boosts Seat Pagine Gialle

Moody's Investors Service said it upgraded all ratings of Seat Pagine Gialle SpA by one notch prompted by the company's ongoing operational improvements and debt reduction.

The outlook is stable.

Affected ratings include the company's corporate family rating, upgraded to Ba3 from B1, as well as Lighthouse International Co. SA's €1.3 billion of 8% senior secured notes due 2014, upgraded from B3 to B2.

Moody's noted that the upgrade of the corporate family rating to Ba3 reflects operational improvements and material debt repayments made by Seat since its initial rating in 2004 when the company was the subject of a leveraged buyout from Telecom Italia.

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