Fitch still may cut Motorola

Fitch's Ratings said Motorola, Inc. ratings remain on Rating Watch negative where they were placed on Feb. 1, after the company said it began a process to create two independent, publicly-traded companies.

Fitch said it believes this represents the next phase of Motorola's review of structural and strategic options, which began on Jan. 31.

As of Dec. 31, the issuer's total debt-to-operating EBITDA ratio was in excess of 3 times.

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