- Language: English
- 102 Pages
- Published: December 2008
- Region: Global
Brocade Communications Systems Inc. Upgraded To 'BB+' Due To Ongoing Debt Reduction Jan 12
- Published: January 2012
- Standard & Poors
U.S. networking equipment manufacturer Brocade Communication Systems has improved its financial profile through continued debt repayments and enhanced cash flow generation. We are raising our corporate credit rating on Brocade to 'BB+' from 'BB'. The stable outlook reflects ongoing debt reductions and our expectation that the company's financial policy will remain consistent with our "intermediate" financial risk profile. SAN FRANCISCO (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services said today that it raised its corporate credit rating on San Jose, Calif.-based Brocade Communications Systems Inc. to 'BB+' from 'BB'. The outlook is stable. In addition, we raised our issue-level rating on the company's $300 million senior secured notes due Jan. 15, 2018 from 'BBB-' to 'BBB'. We also...
Companies mentioned in this report are: Brocade Communications Systems Inc.
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Brocade Communications Systems Inc.