Moody’s upgrades Exelis notes to Baa3

Moody's Investors Service said it upgraded the senior unsecured note ratings of Exelis, Inc. to Baa3 from Ba1, following completion of the merger with Harris Corp. (Baa3 negative).

This concludes the review for upgrade that commenced on April 9.

The non-instrument ratings of Exelis were withdrawn. Exelis has become a subsidiary of Harris and on June 2 Harris guaranteed its debts.

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