Fitch lowers Lumen

Fitch Ratings said it downgraded Lumen Technologies, Inc.'s and subsidiaries, Level 3 Parent, LLC's and Level 3 Financing, Inc.'s, long-term issuer default ratings to RD, Restricted Default, from CCC-. The agency also cut the issue-level ratings assigned to Lumen and Level 3 Financing as well as issue-level ratings at Qwest Capital Funding, Inc.

Additionally, Fitch removed the rating watch negative on all ratings and affirmed the long-term IDRs for Qwest Corp., Qwest Communications International Inc., and Qwest Services Corp. at CCC+.

Fitch subsequently raised the ratings of Lumen Technologies, Inc. and its key borrower subsidiaries to reflect the new capital structure post its transaction support agreement transaction closed on March 22.

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