Moody's ups Telcordia outlook to stable

Moody's Investors Service said it revised Telcordia Technologies Inc.'s outlook to stable from negative and affirmed its B3 ratings.

The outlook revision was driven by anticipated improving performance as well as completion of a new five-year contact with Verizon, the agency said.

According to Moody's, the B3 corporate family rating continues to reflect the high leverage given the long-term challenges the company faces in replacing its declining legacy RBOC business.

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