Moody's: Ericsson notes A3

Moody's Investors Service said it assigned an A3 rating to the new $1 billion of notes due May 2022 issued with SEC registration by Telefonaktiebolaget LM Ericsson.

The outlook is stable.

"The assignment of the A3 rating to the new notes reflects Ericsson's strong market positions, cash generation and conservative capital structure, but also the group's currently depressed margins following management's focus on strengthening its leading market share in advanced technologies," said Wolfgang Draack, a Moody's senior vice president and lead analyst for Ericsson, in a news release.

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